Constantia Flexibles acquires Aluflexpack

The acquisition fits into the company’s Vision 2030 strategy to position itself as a leading flexible packaging player in Europe and globally.

Constantia Flexibles has signed an agreement to acquire approximately 57 percent of the shares of the packaging producer Aluflexpack. In parallel, the comapny will launch an all-cash public tender offer for all publicly held registered shares of Aluflexpack.

The offer is subject to certain terms and conditions, including the outcome of the regulatory process.

The company is a leading player in the European packaging industry, specializing in foil and film packaging for the consumer and pharma markets. Operating out of 14 locations across Europe with over 1,500 employees, the company will complement Constantia Flexibles’ packaging solutions portfolio.

This acquisition is a sizable step in Constantia Flexibles’ foil packaging presence across market segments. Aluflexpack has delivered a very strong historical financial performance and continues to do so. It is highly complementary to Constantia Flexibles’ geographical footprint, e.g., in Turkey and Poland as well as expanding to countries of Southeast Europe. The acquisition gives access to an extended technology portfolio.

Pim Vervaat, CEO of Constantia Flexibles, said: ‘I am delighted to welcome Aluflexpack to the Constantia Flexibles Group. This acquisition fits perfectly in our Vision 2030 strategy to position Constantia Flexibles as a leading flexible packaging player in Europe and globally. The combination of our businesses represents a great strategic and cultural fit. It will allow us to better serve our customers through an enhanced sustainable product range supported by a fully integrated technology portfolio whilst extending our geographical reach.’

The transaction is expected to be completed in Q4 2024, pending regulatory approvals.