{"id":83668,"date":"2023-08-01T13:42:03","date_gmt":"2023-08-01T11:42:03","guid":{"rendered":"https:\/\/packaging-journal.de\/?p=83668"},"modified":"2023-08-01T11:44:14","modified_gmt":"2023-08-01T09:44:14","slug":"wendel-sells-constantia-flexibles","status":"publish","type":"post","link":"https:\/\/packaging-journal.de\/en\/wendel-verkauft-constantia-flexibles\/","title":{"rendered":"Wendel sells Constantia Flexibles"},"content":{"rendered":"
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One Rock Capital Partners is to buy Constantia Flexibles. Wendel acquired the manufacturer of flexible packaging solutions in 2015 and has now signed a corresponding transaction agreement with One Rock Capital Partners.<\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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The transaction is expected to be completed in the second half of 2023, subject to fulfilment of the contractual conditions, including approval by the regulatory authorities.<\/p>

\u201eThe history of Constantia Flexibles within Wendel's portfolio demonstrates the legitimacy of our long-term investor model, which has enabled us to support the company's development. Constantia Flexibles has placed innovation at the centre of its growth model and was thus able to meet the challenges of the circular economy<\/strong>, without neglecting the functional requirements of its products. Under the leadership of Pim Vervaat, all Constantia Flexibles teams have demonstrated their commitment and resilience during the Covid-19 crisis and have handled the recent challenges in the energy and commodity markets with excellence. The teams have enabled the company to deliver an outstanding operational, financial and non-financial performance.\u201c<\/p>

David Darmon<\/strong>, Deputy CEO of the Wendel Group<\/p><\/blockquote>

On 27 March 2015, the Wendel<\/a> the takeover of Constantia Flexibles<\/a> at an enterprise value of 2.3 billion euros. Wendel invested 640 million euros in equity<\/strong> and thus acquired a 73 per cent stake in the company. The AREPO Foundation invested 240 million euros and thus acquired a 27 per cent stake. On 22 September 2015, Wendel signed an agreement with Maxburg Capital Partners (MCP), an investment company supported by the RAG Foundation, to acquire a minority stake in its Investment in Constantia Flexibles to be syndicated<\/strong>.\u00a0<\/p>

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\u201eWendel's commitment and dedication have contributed significantly to our current success and position. We are grateful for their supportive partnership over the years, which has enabled our growth and investment in our workforce, innovation and sustainable offerings for the consumer and pharmaceutical markets. It has been a pleasure to work with Wendel.\u201c<\/p>

Pim Vervaat<\/strong>, CEO of Constantia Flexibles<\/p><\/blockquote>

In 2017, Constantia Flexibles sold its Labels business to Multi-Color Corporation. This value-enhancing transaction provided the company with additional resources to strengthen its growth strategy in the flexible packaging market - where it is a leader in segments such as converting films, die-cut lids, aluminium container systems and pharmaceutical films. During his ownership, Wendel supported Constantia Flexibles in its external growth strategy with 11 acquisitions in 10 countries<\/strong>.<\/p>

Source:<\/em> Constantia Flexibles<\/a><\/p>