Wendel Group to Buy Constantia FlexiblesBy
Funds advised by One Equity Partners (OEP) and the H. Turnauer Foundation have agreed to sell their 100% stakeholding in Constantia Flexibles, a manufacturer of flexible packaging products and labels, to the Wendel Group. OEP acquired the company in 2009, when it took over the majority of Constantia Packaging AG, and holds 75% of Constantia Flexibles, and 25% belong to the H. Turnauer Foundation.
Constantia Flexibles supplies its products to numerous multinational companies and local market companies in the food, pet food, pharmaceuticals, and beverage industries. Constantia Flexibles employs over 8,000 people in almost 80 Group companies and delivers to over 3,000 customers worldwide. In 2013, the company had sales of EUR 1.63 billion ($1.94 billion).
The H. Turnauer Foundation intends to remain a significant shareholder of the company and is currently discussing with Wendel a potential re-investment. The transaction is subject to approval from the relevant antitrust authorities and is expected to be closed in the first half of 2015.
Source: Constantia Flexibles