Packaging manufacturer Constantia Flexibles has strengthened its position in North and Latin America with the acquisition of leading Mexican flexible packaging producer Globalpack.
Vienna, Austria-based Constantia Flexibles group, which supplies a wide range of plastics and composite packaging to the food, pharmaceuticals and beverage sectors, completed the deal early in January 2013. The parties agreed not to reveal the terms of the transaction.
Globalpack, with a 1,500-strong workforce and annual sales of €180m, operates two modern folding carton and flexibles production sites in Mexico. These comprise the Aluprint plant located in San Luis Potosi and the Grafo Regia business in Apodaca, Monterrey.
Globalpack, with a Miami base in the US, converts a variety of materials such as plastics film, aluminium foil and paper for the fast moving food and non food consumer products markets. Flexible packaging represents 70% of its annual sales.
The Globalpack acquisition is part of the international growth strategy of Constantia Flexibles and provides “a strong basis for further growth and expansion in North and Latin America”, the buyer stated.
“With this transaction we significantly strengthen our market position in North America and will get access to the growing markets in Central America,” confirmed Constantia Flexibles CEO Thomas Unger.
Last July, global packaging giant Amcor Ltd. of Melbourne, Australia bought Globapack’s Aluprint tobacco packaging plant, also located in Apodaca, for €40m. That unit was launched in 2009.
Globalpack and Constantia Flexibles Group were both portfolio companies of New York-based JP Morgan Chase & Co.’s private equity firm One Equity Partners.