Constantia Flexibles, an Austria-headquartered flexible packaging company, has acquired a majority stake in Aluflexpack, a flexible packaging and barrier solutions provider.
In February last year, Constantia Flexibles formally agreed to acquire 57% of Aluflexpack’s shares.
With this deal, Constantia Flexibles aims to bolster its packaging portfolio, expand its presence in Turkey and Poland, and drive growth in Southeast Europe.
Headquartered in Reinach, Switzerland, Aluflexpack serves the food and pharmaceutical sectors. It has a workforce of approximately 1,700 employees across nine countries.
Under the deal, Constantia, a portfolio company managed by an affiliate of One Rock Capital Partners, acquired Aluflexpack’s shares from Montana Tech Components and Xoris.
Simultaneously, Constantia also completed a tender offer for the remaining publicly held registered shares.
Constantia CEO David Spratt said: “We are delighted to welcome Aluflexpack to the Constantia Flexibles Group.
“We believe the combination with Aluflexpack will strengthen our leadership in product innovation and sustainability and will improve our ability to serve customers with a broader range of packaging solutions.
“We look forward to joining forces with the Aluflexpack team to complete the integration of the businesses and embark upon our joint growth trajectory.”
As stated in the offer prospectus, Constantia began the squeeze-out process and instructed Aluflexpack to apply for the delisting of its shares.
Aluflexpack CEO Johannes Steurer said: “The acquisition by Constantia marks an exciting new chapter for Aluflexpack. Over the last decade, we have transformed Aluflexpack into one of Europe’s leading flexible packaging companies.
“With Constantia, we now have a partner that shares our commitment to sustainability and innovation, and our team is excited about the potential growth opportunities that lie ahead for both companies together.”
