Closure of the transaction is set for Q4 2024. Credit: Constantia Flexibles.

Packaging company Constantia Flexibles has entered into an agreement to acquire approximately 57% of the shares in packaging producer Aluflexpack. 

Aluflexpack, operating from 14 locations across Europe, specialises in foil and film packaging for the consumer and pharma markets. 

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The company has more than 1,500 employees. 

The acquisition will complement Constantia Flexibles’ packaging solutions portfolio and its existing geographical footprint in Turkey and Poland, as well as help expand to the Southeast Europe countries. 

Constantia also expects the new addition to extend its foil packaging presence across market segments and provide access to an extended technology portfolio.  

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Constantia CEO Pim Vervaat said: “I am delighted to welcome Aluflexpack to the Constantia Flexibles Group. This acquisition fits perfectly in our Vision 2030 strategy to position Constantia Flexibles as a leading flexible packaging player in Europe and globally.  

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“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 transaction is subject to certain closing terms and conditions, including regulatory approvals.   

It is anticipated to be finalised in the fourth quarter (Q4) of 2024. 

The agreement comes a month after an affiliate of private equity investment management company One Rock Capital Partners completed the acquisition of Constantia from European investment company Wendel, Maxburg Capital Partners, and other shareholders.  

Constantia manufactures flexible packaging at 28 sites in 15 countries, supplying both domestic and international companies from the consumer and pharma industries.