Constantia Flexibles has completed the acquisition of a majority interest in Indian flexible packaging firm Creative Polypack.
Image: Constantia Flexibles headquarters in Vienna. Photo: courtesy of Constantia.
Terms of the deal, which was first announced in March 2018, have not been disclosed.
Founded in 1986, Creative Polypack manufactures film-based flexible packaging solutions for the food and home & personal care (HPC) industries.
Creative Polypack employs around 850 employees, and operates eight production facilities in Baddi, Kanpur, Kolkata, Assam and Puducherry, in northern, eastern and southern India.
The company, which also produces paper-based soap wrapper products, serves domestic and international consumer goods companies in India.
Creative Polypack manufactures soap wrappers with PET/BOPP film laminated solutions and PEG coated paper. It also produces extrusion laminate solutions and food laminate solutions.
The company generated sales of around €75m in its fiscal year ended on 31 March 2018.
As per terms of the deal, the senior management in Creative Polypack will continue in their current positions to help expand the operations of the company.
Constantia Flexibles already has a presence in India since 2013, when it purchased Parikh Packaging based in Ahmedabad, western India.
In March 2017, Constantia Flexibles acquired Italian dairy lidding company, TR Alucap, for an undisclosed price.
TR Alucap is headquartered in Borgo Valsugana, near Trento, one of the leading yogurt producing regions in Italy. It was previously owned by two private equities Gradiente SGR and La Finanziaria Trentina.
Constantia Labels offers label solutions to the customers in the beverage, food and home and personal care industries.
The firm’s labels division had generated sales of about €605m in the last year. It majorly carries out operations in Europe, Asia and North America.
Constantia Flexibles supplies flexible packaging and label solutions to the customers in the food, pet food, pharmaceuticals and beverage industries.
With around 8,300 employees, the company produces packaging solutions at 40 facilities in 18 countries.