Constantia acquires majority of Parikh Packaging

Source：Constantia Flexibles Release Date：2013-06-14 270

Food & Beverage

Austria-based Constantia Flexibles to hold 60% share of Indian company Parikh Packaging, which serves the food and non-food sector in India

Constantia Flexibles acquires 60% share of Parikh Packaging, which has sales of EUR 22 million and employs about 500 staff in India. And on July 11, 2013, upon closing of transaction, the Austrian company will officially hold a strong position in India, the world’s fastest growing flexible packaging market.

Parikh Packaging today serves the food, health and personal care (HPC) and non-food industries. The

company is well established in the market operating from Ahmedabad north of Mumbai in the state of Gujarat.

Whilst Constantia Flexibles holds 60% share, the remainder stays with the Parikh family. The acquisition is part of the international growth strategy of Constantia, and constitutes another important step for further growth and expansion in Asia.

Constantia Flexibles is a leading flexible packaging group servicing international customers in the food, pet food, pharmaceutical and beverage industries. It has more than 8,000 employees in over 50 group companies in more than 20 countries. (Photo courtesy of Parikh)

Related link: Austria's Constantia Flexibles eyes IPO

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