Portuguese label printer invests in further cutting
The completion of the Constantia Flexibles purchase of Spear has placed the flexible packaging group in the top five global label producers.
Constantia Flexibles supplies international customers in the food, pet food, pharmaceutical and beverage industries with more than 7,000 employees in over 50 group companies in more than 20 countries.
Spear produces pressure-sensitive labels for the beverage market. The company has sales of €150 million and 650 employees at four locations in the USA, one in Wales/UK and one in South Africa.
The deal for Constantia to purchase Spear was announced in mid-February, but was closed yesterday.
At the time, Thomas Unger, chief executive officer Constantia Flexibles, said: ‘We will be able to serve our customers even better together with Spear, a leading beverage labels business with a highly attractive, global, blue-chip customer base.
‘The group’s outstanding technological capabilities present many opportunities for continued profitable growth. We look forward to partnering with Spear’s excellent management team to capture the benefits from combining our businesses.’
Alexander van ´t Riet (pictured), executive board member for labels at Constantia Flexibles, said: ‘Spear constitutes an excellent addition to our existing labels business. It will open new roads to attractive markets in the Americas and Africa and especially to the fast growing premium beer markets around the world, where pressure-sensitive labels are key to success. We welcome our new colleagues from Spear to our Group and look forward to jointly serving our customers globally in a remarkable way.’