Austria-based flexible packaging firm Constantia Flexibles Group has completed the acquisition of a majority shareholding in India’s Creative Polypack.
The acquisition has made Constantia Flexibles the third largest flexible packaging company in India.
Established in 1986, Creative Polypack registered sales of around €75m in the business year ending 31 March.
The company currently employs 850 workers at eight production sites in the Indian states of Baddi, Kanpur, Kolkata, Assam and Puducherry.
Constantia Flexibles CEO Alexander Baumgartner said last month: “Through this acquisition, we will become the third largest flexible packaging company in India—the fastest growing packaging market globally with double-digit growth rates driven by the megatrend urbanisation and the expansion of the retail sector.
Creative Polypack serves the food and home & personal care (HPC) industries with film-based flexible packaging.
Baumgartner added: “We gain a stronger footprint in the HPC market, which complements our existing customer portfolio, while we are now able to cover the whole of the Indian subcontinent with our extensive production footprint.”
The company, which serves consumer goods firms in India, also manufactures paper-based soap wrappers.