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19 November 2024
Huber Group Sold To Murugappa
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The Murugappa Group of India has acquire Hubergroup, a specialty chemicals company based in Germany, for $310 million. Hubergroup ( Hostmann-Steinberg ) an international manufacture of printing inks for commercial printing, web offset and packaging, as well as varnishes and PI adhesives for packaging. Hubergroup employs approximately 3,000 people in almost 30 countries and generated annual sales of around €812 million in 2022.
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One of the world largest ink manufactures
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Hubergroup Mississauga, Ontario plant
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This acquisition is a strategic move by Murugappa to expand its presence in the global print and packaging sector, which is highly competitive. The Murugappa Group, a diversified conglomerate based in India, has a portfolio that spans agriculture, engineering, and financial services. The deal will provide Murugappa with full ownership of Hubergroup through a partnership with Avenue Capital Group, which will take the company over from Cornelius Treuhand Holding.
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