Aluflexpack, which is headquartered in Reinach, Aargau canton, caters to the consumer and pharmaceutical markets with foil and film packaging solutions, through its 14 production facilities in Europe, located across Switzerland, France, Poland, Türkiye, and Croatia
Constantia Flexibles to take majority stake in Aluflexpack. (Credit: ALUFLEXPACK AG)
Austrian packaging company Constantia Flexibles has agreed to acquire a stake of around 57% in Swiss packaging producer Aluflexpack from Montana Tech Components (MTC) and Xoris.
The financial terms of the deal were not disclosed.
Constantia Flexibles will concurrently initiate an all-cash public tender offer for all publicly owned registration shares of the Swiss flexible packaging solutions provider.
The offer is contingent on some terms and conditions, which include the outcome of the regulatory process.
Headquartered in Reinach, Aargau canton, Aluflexpack caters to the consumer and pharmaceutical markets with foil and film packaging solutions.
The company operates 14 production facilities across Europe in Switzerland, France, Poland, Türkiye, and Croatia. It has more than 1,500 employees, as of 30 June 2023.
Aluflexpack CEO Johannes Steurer said: “Over the last decade, Aluflexpack transformed itself into one of the foremost flexible packaging companies in Europe. Our current standing and accomplishments are also a result of the support and commitment demonstrated by MTC.
“We deeply appreciate this partnership, which was a pillar of support over the years and instrumental in facilitating our expansion projects as well as investments in our people, leading technology and innovation.”
Aluflexpack is expected to complement the packaging solutions portfolio of Constantia Flexibles. It will also help in expanding the foil packaging footprint of the Austrian company across market segments.
Additionally, the deal will enhance Constantia Flexibles’s existing geographical presence in Türkiye and Poland, as well as help expand into Southeast Europe countries. The firm will also gain access to an extended technology portfolio.
Constantia Flexibles CEO Pim Vervaat said: “This acquisition fits perfectly in our Vision 2030 strategy to position 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 acquisition is anticipated to conclude in Q4 of this year, subject to regulatory approvals.