M&As this week: Constantia Flexibles, Huhtamaki, GR. Sarantis Cyprus

30 March 2018 (Last Updated March 28th, 2018 12:42)

Constantia Flexibles plans to acquire a majority stake in Indian film-based flexible packaging manufacturer Creative Polypack.

Constantia Flexibles plans to acquire a majority stake in Indian film-based flexible packaging manufacturer Creative Polypack.

Based in Austria, Constantia Flexibles is involved in the manufacturing and selling of flexible packaging and labelling products.

The acquisition will enable Constantia Flexibles to strengthen its footprint in the home and personal care (HPC) market.

Huhtamaki PPL has signed an agreement to acquire the business of M/s. Ajanta Packaging for approximately Rs1bn ($15.37m).

Huhtamaki PPL develops paper and plastic packaging and is a subsidiary of Finnish packaging manufacturer Huhtamaki Oyj, while Ajanta Packaging is a producer of pressure-sensitive labels.

Both the companies involved in the transaction are based in India.

The acquisition will strengthen Huhtamaki’s labelling business in India and consolidate its position in the pressure-sensitive label market.

“The acquisition will enable Sarantis to expand its product portfolio and geographical presence.”

GR. Sarantis Cyprus has signed an agreement to acquire a 90% interest in Ergopack.

Sarantis is a Greece-based manufacturer and distributor of consumer products, while Ergopack is a Ukrainian provider of household items.

The acquisition will enable Sarantis to expand its product portfolio and geographical presence.

Sonoco Products Company has signed a definitive agreement to acquire Highland Packaging Solutions for $150m.

The target company will operate as a part of Sonoco’s global plastics business, following the acquisition.

Sonoco is a manufacturer and seller of industrial and consumer packaging products, while Highland Packaging is a packaging solutions provider.

Both companies are based in the US.

Smurfit Kappa has rejected a second takeover bid valued at €11bn ($13.58bn) from International Paper Company.

The company had previously rejected a €8.6bn ($10.6bn) takeover offer from International Paper Company.

Smurfit Kappa rejected the proposal as it was against its interests of operating as an independent company and underrated its asset and replacement value.

Smurfit Kappa is an Irish manufacturer of corrugated packaging products, while International Paper is a US-based developer of fibre-based packaging, pulps and papers.