Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wordpress-seo domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/html/wp-includes/functions.php on line 6260 Constantia Flexibles Completes Sale of Labels Division to Multi-Color - Ink World Magazine

What are you searching for?

Sign in
Industry News, Mergers and Acquisitions, Printers News

Constantia Flexibles Completes Sale of Labels Division to Multi-Color

Constantia Flexibles has received approximately €830 million in cash and 16.6% shareholding of Multi-Color.

Author Image

By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

Constantia Flexibles has successfully completed the sale of its Labels division to Multi-Color Corporation for an enterprise value of approximately €1.15 billion ($1.3 billion). All required regulatory authorities have cleared the transaction. Constantia Flexibles has received approximately €830 million in cash and will continue to participate in the future success story of Multi-Color through a 16.6% shareholding.
 
The transaction brings together the Food and Beverage business of Constantia Flexibles’ Labels division with Multi-Color’s Wine & Spirit and Home & Personal Care platforms, as well as an emerging global position in Healthcare. The combined annual revenues of the two businesses will be approximately $1.7 billion.
 
“We would like to thank all employees of the Labels division for their tremendous contributions to our Group in the past and wish them a successful future as part of Multi-Color,” Alexander Baumgartner, CEO of Constantia Flexibles, said. “Constantia Flexibles will use the proceeds from the transaction to deleverage its balance sheet and enable further acquisitions in the dynamic and consolidating flexible packaging industry. We will also focus on innovative products and services, as well as new technologies to strengthen our existing Food and Pharma businesses.”

Add us as a preferred source on Google

Get the latest Ink World magazine news, insights and analysis in your Google Search and AI experiences.

Add Ink World magazine as a preferred source on Google (opens in a new tab)

Keep Up With Our Content. Subscribe To Ink World magazine Newsletters