3 days ago
Huhtamaki secures $173m loan for refinancing
Finnish sustainable packaging solutions provider Huhtamaki has secured a €150m ($173m) freely transferable loan (Schuldschein) aimed at institutional investors.
The loan agreement, structured in two floating and two fixed-rate tranches, will mature over five and seven years, respectively. This financial move is intended to facilitate the refinancing and support general corporate activities within the Huhtamaki Group.
Meanwhile, Huhtamaki announced a change in its executive team. Johan Rabe, executive vice president of digitalisation and process performance, and a member of the Huhtamaki global executive team, will be departing the company to explore new career opportunities.
Rabe has committed to aiding in a smooth transition until the end of the current year, after which his successor will be named.
In January 2025, the company appointed Ralf Wunderlich as its new president and CEO.
Huhtamaki, with a century-long history and a robust Nordic heritage, operates across 36 countries with approximately 18,000 professionals in 102 locations.
The company's efforts towards sustainability can be seen in its operations and product offerings.
These products play a crucial role in protecting food and beverages, both on-the-go and on-shelf, as well as personal care items, ensuring safety and hygiene, enhancing accessibility and affordability, and contributing to the reduction of food waste, stated the company.
In 2024, Huhtamaki reported net sales of €4.1bn. Net sales remained flat at €1bn in the first quarter of 2025, when compared with the previous year's level.
By the end of Q1 2025, the company realised cost savings amounting to €87m, which have been instrumental in offsetting the impact of cost inflation.
In April 2025, Huhtamaki acquired Zellwin Farms, a producer of moulded fibre packaging in Florida, the US.
"Huhtamaki secures $173m loan for refinancing" was originally created and published by Packaging Gateway, a GlobalData owned brand.
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