Constantia Flexibles – Acquisition of India’s Creative Polypack completed
INDIA • Constantia Flexibles Group is now the third largest flexible packaging company in India. This company has successfully completing its acquisition of a majority shareholding in India’s Creative Polypack Limited after all conditions were fulfilled.
Creative Polypack Limited was founded in 1986 and achieved sales of about 75 million EUR in its business year ending March 31, 2018. It currently has about 850 employees at eight production sites in Baddi, Kanpur, Kolkata, Assam and Puducherry, in northern, eastern and southern India.
Creative Polypack manufactures film-based flexible packaging for the food and home & personal care (HPC) industries, as well as paper-based soap wrappers. The company serves the leading domestic and international consumer goods companies in India. Constantia Flexibles already has a presence in India since 2013, when it acquired Parikh Packaging based in Ahmedabad, western India. The transaction was originally announced on March 23, 2018.
Constantia Flexibles is an active supplier of film-based flexible packaging for the Indian market since acquiring Parikh Packaging in 2013, a multimillion Euro investment.
In 2017, Constantia Flexibles sold its labels division to Multi-Color Corporation for an enterprise value of approximately EUR 1.15 billion (USD 1.3 billion) – read more on in this post.