India, March 10 -- Constantia Flexibles, a global packaging manufacturer and portfolio company owned by an affiliate of One Rock Capital Partners, announced that it has successfully completed the acquisition of a majority of shares ofAluflexpack.
Constantia has acquired approximately 57% of the shares ofAluflexpackfrom Montana Tech Components AG ("MTC") and Xoris GmbH, and in parallel settled a successful tender offer for the remaining publicly held registered shares (the "Offer"). As announced in the offer prospectus, Constantia initiated the squeeze-out procedure and hadAluflexpackapply for the delisting of theAluflexpackshares, such delisting to be effective as of the date of the court decision regarding the squeeze-out.
Aluflexpackis a leading European producer of custom flexible packaging, serving food and pharmaceutical sectors. Headquartered in Reinach (Aargau),Switzerland,Aluflexpackemploys approximately 1,700 employees in 9 countries.
"We are delighted to welcomeAluflexpackto the Constantia Flexibles Group," saidDavid Spratt, chief executive officer of Constantia. "We believe the combination withAluflexpackwill strengthen our leadership in product innovation and sustainability and will improve our ability to serve customers with a broader range of packaging solutions. We look forward to joining forces with theAluflexpackteam to complete the integration of the businesses and embark upon our joint growth trajectory."
Johannes Steurer, chief executive officer ofAluflexpack, stated, "The acquisition by Constantia marks an exciting new chapter forAluflexpack. Over the last decade, we have transformedAluflexpackinto one ofEurope'sleading flexible packaging companies. With Constantia, we now have a partner that shares our commitment to sustainability and innovation, and our team is excited about the potential growth opportunities that lie ahead for both companies together."
Jefferies acted as exclusive financial advisor and Willkie, Farr & Gallagher, Latham & Watkins and Bar & Karrer as legal advisors to Constantia in the context of this transaction. MP Corporate Finance acted as exclusive financial advisor toAluflexpack, MTC and Xoris andWalder Wyssand Freshfields as legal advisors to MTC.
Published by HT Digital Content Services with permission from FoodTechBiz.