Veirano Advogados advised Huhtamaki, while Demarest Advogados Bemis do Brasil (now part of Amcor) in the transaction.
Huhtamaki has agreed to acquire full ownership of its joint venture company Laminor S.A. in Brazil, from Bemis do Brasil, at a price of approximately EUR 30 million.
Laminor is specialized in high-quality tube laminates, particularly for oral care applications, and was set up in 2002 as a 50/50 joint venture together with Bemis Company, which is now part of Amcor. Laminor has approximately 130 employees and its net sales in 2018 were approximately EUR 25 million.
Huhtamaki is a global specialist in packaging for food and drink. With a net sales totaled EUR 3.1 billion in 2018, the Group has its head office in Espoo, Finland and the parent company Huhtamäki Oyj is listed on Nasdaq Helsinki Ltd.
The acquisition enables Huhtamaki to expand its tube laminate business, an important part of the Group’s flexible packaging offering.
The transaction is subject to the approval of competition authorities in Brazil and it is expected to be closed during the first quarter in 2020.
Veirano team was composed of Partner Robson Barreto (Picture), Associate Ursula Mata-Xavier, Partner Leonardo Duarte, and Associate Gabriela Monteiro.
Law Firms: Veirano Advogados;
Clients: Huhtamäki Oyj;