Propak, which serves snacks market, is said to complement Constantia Flexibles’ packaging solutions portfolio
Constantia Flexibles has agreed to acquire packaging producer Propak. (Credit: Constantia Flexibles)
Flexible packaging solutions provider Constantia Flexibles has agreed to acquire Turkey-based packaging producer Propak for an undisclosed sum.
Based in Dücze, Propak offers advanced packaging solutions for European customers in the snacks market.
With around 360 employees, the company operates one facility and is said to complement Constantia Flexibles’ packaging solutions portfolio.
The acquisition of Propak will also allow Constantia Flexibles to elevate the company as one of the significant players in the European snacks market.
Constantia also stated that Propak is highly complementary to the firm’s existing site, Constantia ASAS, in Turkey.
Propak will also help Constantia to add flexo printing capabilities and access to an adjacent market segment.
Constantia Flexibles CEO Pim Vervaat said: “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.”
Subject to regulatory approvals, the deal is expected to be completed by the end of the second quarter this year.
In February this year, Constantia Flexibles launched a new recyclable polymeric mono-material called Perpetua for pharmaceutical applications.
With around 8,300 employees, Constantia Flexibles produces customised packaging solutions at 37 sites in 16 countries.