Constantia Flexibles announces acquisition of majority stake in Aluflexpack AG

Constantia Flexibles, a leading global packaging manufacturer and a portfolio company of One Rock Capital Partners, LLC, has announced a significant agreement to acquire approximately 57% of the shares of Aluflexpack AG from Montana Tech Components AG (MTC) and Xoris GmbH. In a strategic move to expand its global footprint and product offerings, Constantia will also initiate an all-cash public tender offer for all publicly held registered shares of Aluflexpack, subject to regulatory approvals and specific terms and conditions.

A Strategic Expansion to Enhance Global Presence

This acquisition marks a pivotal step for Constantia Flexibles in its Vision 2030 strategy, aiming to strengthen its position as a key player in the flexible packaging sector both in Europe and globally. Pim Vervaat, CEO of Constantia, expressed enthusiasm about the acquisition, stating, “I am delighted to welcome Aluflexpack to Constantia – this acquisition fits perfectly in our Vision 2030 strategy as a strong packaging player in Europe and globally.” He highlighted the strategic and cultural fit of the merger, emphasizing the potential to offer customers an enhanced sustainable product range supported by a fully integrated technology portfolio while extending geographical reach.

Constantia Flexibles to Acquire Majority Stake in Aluflexpack AG

Aluflexpack’s Decade of Transformation

Johannes Steurer, CEO of Aluflexpack, reflected on the company’s transformation into a leading flexible packaging company in Europe, crediting the support and commitment of MTC for its current standing and accomplishments. “Together with a new partner, we will continue to work on our strategy in order to create the best possible value for our customers, employees and all stakeholders, and drive innovation projects and our sustainability agenda,” said Steurer, looking forward to the partnership with Constantia Flexibles.

MTC’s Strategic Realignment and Investment

Dr. Michael Tojner, CEO of MTC and former majority owner of Aluflexpack, shared his pride in the company’s growth and strategic realignment under MTC’s ownership, which included an IPO and significant investments in expansion and innovation. “With the acquisition by Constantia Flexibles, Aluflexpack can take a significant next step in growth, leverage core competencies, and consolidate expertise in the packaging sector,” Tojner added, highlighting the success story of Aluflexpack as a global player in flexible packaging solutions.

Advisory Roles and Legal Support

Jefferies is serving as the exclusive financial advisor, with Latham & Watkins LLP and Bär & Karrer acting as legal advisors to Constantia in this transaction. MP Corporate Finance is the exclusive financial advisor to MTC and Xoris GmbH, with Walder Wyss and Freshfields providing legal advice to MTC and Aluflexpack.

Constantia and Aluflexpack: A Forward-Looking Partnership

Constantia Flexibles, headquartered in Vienna, employs over 7,150 people and manufactures packaging solutions at 28 sites in 15 countries, serving international companies and regional market leaders. Aluflexpack, known for its flexible packaging solutions across various consumer end markets, boasts a workforce of 1,584 employees and has production facilities in Switzerland, France, Poland, Türkiye, and Croatia. This merger is anticipated to not only enhance Constantia’s product range and technological capabilities but also to solidify Aluflexpack’s standing in the global market, fostering growth and innovation in the flexible packaging industry.