one equity partners oep sells constantia flexibles to wendelfunds advised by one equity partners "oep" and the h. turnauer foundation have agreed to sell their 100 percent stakeholding in constantia flexibles to the wendel group. wendel&39s offer values the group at around &euro 2.3 billion enterprise value. constantia flexibles is one of the world&39s leading manufacturers of flexible packaging products and labels. oep acquired the company in 2009, when it took over the majority of constantia packaging ag, and holds 75 percent of constantia flexibles. 25 percent belong to the h. turnauer foundation."we are very happy with the way that constantia flexibles has developed over the last five years under the ownership of oep. thomas unger and the management team, along with all the employees of constantia flexibles, have done an excellent job. on behalf of oep, i would like to say thank you for the outstanding cooperation," said melchior von peter, managing director at oep.constantia flexibles supplies its products to numerous multinational companies and local market leaders in the food, pet food, pharmaceuticals and beverage industries. constantia flexibles employs over 8,000 people in almost 80 group companies and delivers to over 3,000 customers worldwide. in 2013, the company achieved sales of eur 1.63 billion and earnings ebitda of eur 233 million. since oep&39s investment, sales have grown by 73 percent and earnings ebitda by 76 percent.thomas unger, ceo of constantia flexibles "in recent years, constantia flexibles has developed from a regionallyfocused provider in europe into a globallyactive group present in the most attractive and fastest growing markets for flexible packaging. we have positioned the company outstandingly for further profitable growth, and we will be working with our new owner to realize this potential in the future."wendel is one of europe&39s leading listed investment firms. the group invests internationally, in companies that are leaders in their field, such as bureau veritas, saintgobain, materis paints, stahl and ihs in africa. wendel plays an active role as industry shareholder in these companies. it implements longterm development strategies, which involve boosting growth and margins of companies so as to enhance their leading market positions.the h. turnauer foundation intends to remain a significant shareholder of the company and is currently discussing with wendel a potential reinvestment. the transaction is subject to approval from the relevant antitrust authorities and is expected to be closed in the first half of 2015.press contact for oepnorbert sellecnc communications & network consulting agmobile 49 175 180 5982email norbert.selle@cnccommunications.compress contact for constantia flexiblesdaniel smithhead of group communicationsmobile 49 172 4418030email daniel.smith@cflex.com 
