Constantia Flexibles Acquires Creative Polypack
- Published: May 03, 2018
VIENNA, AUSTRIA | Constantia Flexibles Group has agreed to acquire a majority shareholding in the film-based laminates producer Creative Polypack Limited, Kolkata, India,. Financial details of the transaction were not disclosed.
Creative Polypack Limited, family-owned and founded in 1986, is expected to achieve sales of about €75 million in the business year 2017/2018 and currently has about 850 employees at eight production sites in India. It is India’s fourth largest flexible packaging group, manufacturing film-based flexible packaging for the food and home and personal care (HPC) industries, as well as paper-based soap wrappers. Creative’s senior management will remain in their current roles.
Alexander Baumgartner, Constantia Flexibles CEO, says, “Through this acquisition, we will become the third largest flexible packaging company in India—the fastest growing packaging market globally, with double-digit growth rates driven by the megatrend urbanization and the expansion of the retail sector. In addition, we gain a stronger footprint in the HPC market, which complements our existing customer portfolio, while we are now able to cover the whole of the Indian subcontinent with our extensive production footprint.”
Constantia Flexibles reports it is already a leading supplier of film-based flexible packaging for the Indian market since acquiring Parikh Packaging in 2013, which is based in Ahmedabad, western India. 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 onstream in 2019.
