Brødrene Hartmann expands in India
Danish company Brødrene Hartmann has entered into an agreement for the acquisition of Mohan Fibre Products, India’s leading producer of moulded fibre packaging for the fruit, eggs and food service segments.
The €16 million deal is in line with Hartmann’s “Think Ahead” strategy, which entails investments in both new and existing markets including significant capacity expansions in Europe, the US and Brazil.
Mohan Fibre, based in Punjab, posted estimated revenues of €10 million in 2019.
The transaction is expected to be completed by mid-2020, subject to approval by the competent authorities.