ZELLWIN FARMS COMPANY acquired by HUHTAMAKI
Context
Huhtamaki has acquired Zellwin Farms Company for an Enterprise Value of USD 18 million. The deal provides Huhtamaki with immediate additional capacity in the molded fiber segment to serve the North American market. This acquisition aligns with the legislative shift in the US away from foam/plastic towards renewable packaging. The transaction is expected to be EPS accretive from Year 1.
ZELLWIN FARMS COMPANY, which reported an EBITDA margin of in 2023, is valued in this transaction at an EV/EBITDA multiple of , a level to compare with the average currently observed in the Industry & Manufacturing sector (11.6x).
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Target
Located in Zellwood, Florida, Zellwin Farms is a specialized manufacturer of molded fiber packaging, specifically focusing on egg cartons and egg flats. For over 20 years, the privately-owned business has served egg producers across the Southeastern United States. The company operates a single manufacturing site dedicated to converting recycled paper into protective packaging for the poultry industry.
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| 01/2025 | GROUPE SGT (SOCIETE GENERALE DES TECHNIQUES) | AXIUM PACKAGING | FRANCE | Plastic Packaging |
| 01/2025 | MACFARLANE GROUP | THE PITREAVIE GROUP | UNITED KINGDOM | Paper & Cardboard |
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REFERENCES
Valuation range: EV 10M - 30M USD
Revenue range: 10M - 30M USD
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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.