Constantia Flexibles Group completes Creative Polypack acquisition

27-Apr-2018 - Last updated on 27-Apr-2018 at 10:55 GMT

Constantia Flexibles Group completes its acquisition of Creative Polypack. Photo: Constantia Flexibles Group.

Constantia Flexibles Group has completed its acquisition of a majority shareholding of Creative Polypack in India, for an undisclosed amount.

Creative Polypack is India’s fourth largest flexible packaging group, manufacturing film-based flexible packaging for the food, home and personal care (HPC) industries.

Stronger foothold

It is expected to achieve sales of about €75m in 2017/2018 and currently has 850 employees at eight production sites in Baddi, Kanpur, Kolkata, Assam and Puducherry, in northern, eastern and southern India.

Alexander Baumgartner, CEO, Constantia Flexibles, said at the time of the announcement in March this year it wants to gain a stronger foothold in the HPC market.

“Through this acquisition, we will become the third largest flexible packaging company in India, with double-digit growth rates driven by the megatrend urbanization and the expansion of the retail sector.”

Constantia Flexibles currently supplies film-based flexible packaging for the Indian market since acquiring Parikh Packaging in 2013, in Ahmedabad, western India.

Greenfield site

Parikh is investing a double-digit million euro amount in a new greenfield site, which will be home to a polyethylene blown film extruder, high-definition Flexo printing press and laminators that will produce high barrier laminates that can be fully recycled.

The extra capacity will come on stream in 2019.