Constantia Flexibles acquires snack packager Propak in Turkey
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The deal is intended to make Constantia one of the main players in the European snacks market.
In a move designed to expand its footprint in the European snacks market, Austria-based packaging supplier Constantia Flexibles is acquiring Propak, a packaging producer based in Dücze, Turkey.
The financial terms of the deal have not been disclosed.
In an April 30 news release, Constantia officials described Propak as “a leading player in the European packaging industry for the snacks market…[that will] perfectly complement Constantia Flexibles’ packaging solutions portfolio.”
Propak’s facility is also described as being “highly complementary” to Constantia’s existing site in Turkey, Constantia ASAS, adding flexo printing capabilities and access to an adjacent market segment. “It significantly reinforces Constantia’s position with the key customers in this market and furthermore, increases future potential for business growth,” the news release added.
“The acquisition… will also give us the opportunity to accelerate our more sustainable EcoLam Mono-PE innovation for the salty snacks market,” Constantia CEO Pim Vervaat said. “I am looking forward to working with the management team at Propak in helping to bring the company to the next level.”
The transaction is expected to be completed in Q2 2021.