Constantia Flexibles aims for group globalization

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Constantia Flexibles aims for group globalization

April 20
10:31 2013

Constantia Flexibles is targeting new growth potential especially in emerging markets as it bids to globalize the group.

The firm added that the medium-term goal is to get beyond €2bn in sales, with 2012 levels at €1.31bn.

The business model is a combination of stability due to products close to daily consumer demand and growth potentials from the development of new middle classes in emerging markets and other trends, added Constantia.

The owners of CP Group 1 B.V., which owns the firm, are private equity group, One Equity Partners with a 75% stake, which makes private equity investments for JPMorgan Chase & Co, and Constantia Packaging B.V. holding 25%.

Three deals so far

The firm has announced deals for a flexible packaging firm in India, a label producer in the US and a flexible packaging and folding carton producer in Mexico since the start of 2013, adding €350m in sales.

The purchase of 60% of Parikh Packaging in India which serves the bakery, confectionery, beverage and dairy markets was agreed in April.

It company has sales of €22m and 500 employees in Ahmedabad north of Mumbai in the state of Gujarat.

With the steadily increasing middle class, India is the world´s fastest growing market for flexible packaging with 15% growth per year, said Constantia.

In February a contract for the purchase of the Spear Group in the US was signed.

The company works in the market of pressure-sensitive labels for the beverage industry and achieved sales of €150m with 650 employees at four sites in North America and one in Wales/UK and South Africa.

It creates a strong basis in the attractive US market as well as for further expansion in the global labels market.

In January Globalpack, which supplies the consumer goods industry for food and beverages, employees 1,500 people at two production sites in San Luis Potosí and Monterrey and achieved sales of €180m.

The acquisition complements the product portfolio, enables access to new customers in North America and a strong presence in the growth market Central America, said the firm.

New growth markets

In the last nine years an average growth of 8% per year could be achieved both in sales and earnings at an EBITDA margin of 14%.

Thomas Unger, CEO of Constantia Flexibles, said the acquisitions will open up new growth potentials in attractive markets.

“With these acquisitions we could make an important step towards globalization of our group.

“With this we can support the growth of our international key customers in the markets even better,” he added.

“To integrate these companies for the benefit of our customers and employees is a very rewarding task. We aim at creating “win-win” situations, from which all stakeholders can benefit.”

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