Vienna, Austria-headquartered packaging company Constantia Flexibles GmbH has announced that it has completed its acquisition of South African flexibles packaging group Afripack.
The completion comes following approval from the antitrust authorities. A financial figure for the deal was not disclosed.
Constantia highlights that Africa is one of the fastest growing markets for flexible packaging, with demand being pushed by factors including urbanization and investment by multinational companies.
Friedrich Humer, executive vice president of Food Emerging Markets of Constantia Flexibles, said: “We welcome the Afripack employees into our group and look forward to growing the business in this exciting continent in the future.”
Afripack currently has four plants in South Africa, plus one in Kenya and one in Mauritius. It currently employs around 1,150 people.
Constantia employs around 10,000 people and has more than 52 production locations in more than 23 countries.