Constantia Flexibles has signed an agreement to acquire approximately 57% of the shares of Aluflexpack, a prominent packaging producer. Concurrently, Constantia Flexibles will initiate an all-cash public tender offer for all publicly held registered shares of Aluflexpack. This offer, subject to specific terms and conditions including regulatory approval, is detailed in the pre-announcement available at afp-tender-offer.com.
Aluflexpack, a key player in the European packaging industry, specializes in foil and film packaging for the Consumer and Pharma markets. Operating from 14 locations across Europe and employing over 1,500 people, Aluflexpack will significantly enhance Constantia Flexibles’ packaging solutions portfolio.
This acquisition marks a substantial expansion of Constantia Flexibles’ presence in the foil packaging market across various segments. Aluflexpack’s strong historical financial performance and complementary geographical footprint in regions such as Turkey, Poland, and Southeast Europe align well with Constantia Flexibles' strategic goals. Additionally, the acquisition provides access to an extended technology portfolio.
Pim Vervaat, CEO of Constantia Flexibles, commented, “I am delighted to welcome Aluflexpack to the Constantia Flexibles Group. This acquisition fits perfectly into our Vision 2030 strategy, positioning 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.
