iConnectHub

Login/Register

WeChat

For more information, follow us on WeChat

Connect

For more information, contact us on WeChat

Email

You can contact us info@ringiertrade.com

Phone

Contact Us

86-21 6289-5533 x 269

Suggestions or Comments

86-20 2885 5256

Top

Constantia Flexibles to acquire Propak in Turkey

Source:Constantia Flexibles, Wendel Release Date:2021-05-12 976
Food, Beverage & Personal CareFood & BeveragePackaging Equipment & Materials
Add to Favorites
Constantia Flexibles has signed the agreement to acquire packaging producer Propak located in Dücze, Turkey.

Constantia Flexibles has signed an agreement to acquire packaging producer Propak located in Dücze, Turkey.

 

With about 360 employees, ProPak offers packaging for the snacks market in Europe. The acquisition elevates Constantia Flexibles to one of the main players in the European snacks market, according to investment firm, Wendel which has a controlling share in Constantia.

 

This acquisition enables strong synergy potential and is a sizable step in Constantia Flexibles’ film packaging presence in a growing market segment. Propak has delivered a very strong historical financial performance. It is highly complementary to Constantia Flexibles’ existing site in Turkey, Constantia ASAS, adding flexo printing capabilities and access to an adjacent market segment. It significantly reinforces Constantia Flexibles position with the key customers in this market and furthermore, increases future potential for business growth.


Constantia Flexibles.jpg

Constantia Flexibles Rivergate ©Constantia Flexibles 


Pim Vervaat, CEO of Constantia Flexibles, states: “The acquisition of Propak fits perfectly in our Vision 2025 growth strategy and brings Constantia Flexibles a good platform in the growing European snacks market. It will also give us the opportunity to accelerate our more sustainable EcoLam Mono-PE innovation for the salty snacks market. I am looking forward to working with the management team at Propak in helping to bring the company to the next level.”

 

The transaction is expected to be completed in Q2 2021, pending regulatory approvals.

 

This is one of the largest acquisitions made by Constantia Flexibles since Wendel became the reference shareholder of the company in March 2015. This transaction will contribute positively to the company’s long-term value creation. Wendel is the controlling shareholder of Constantia Flexibles with 60.8% of its share capital.


Add to Favorites
You May Like