Constantia Flexibles has successfully completed the sale of its labels division to Multi-Color Corporation for $1.3 billion. All required regulatory authorities have cleared the transaction.
The transaction brings together the high-performing food and beverage business of Constantia Flexibles’ labels division with Multi-Color’s strong wine and spirit, and home and 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.
Alexander Baumgartner, CEO of Constantia Flexibles: “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. 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.”