VIENNA, AUSTRIA -- Packaging manufacturer Constantia Flexibles GmbH has strengthened its position in North and Latin America with the acquisition of leading Mexican flexible packaging producer Global Packaging Corp. NV.
Vienna-based Constantia Flexibles, which supplies a wide range of plastics and composite packaging to the food, pharmaceuticals and beverage sectors, completed the deal early in January. Terms were not disclosed.
Globalpack and Constantia Flexibles Group are both portfolio companies of One Equity Partners, which is New York-based JP Morgan Chase & Co.'s private equity firm.
Miami-based Globalpack, with 1,500 employees and annual sales of 180 million euros ($240 million), operates two folding carton and flexibles production sites in Mexico. These comprise the Aluprint plant located in San Luis Potosi and the Grafo Regia business in Apodaca.
Globalpack converts a variety of materials such as plastics film, aluminum foil and paper for the food and non-food consumer products markets. Flexible packaging represents 70 percent of its annual sales.
The Globalpack acquisition is part of the international growth strategy of Constantia Flexibles and provides "a strong basis for further growth and expansion in North and Latin America," the buyer stated in a news release.
"With this transaction we significantly strengthen our market position in North America and will get access to the growing markets in Central America," said Constantia Flexibles CEO Thomas Unger.
In July, global packaging giant Amcor Ltd. of Melbourne, Australia bought Globapack's Aluprint tobacco packaging plant, also located in Apodaca, for 40 million euros ($53 million).