Packaging supplier Multi-Color buying Constantia Flexibles’ labels division
In a statement, Batavia, Ohio-based Multi-Color said that the $1.3 billion deal would complement its wine and spirits business with what it called Constantia's strength in the food and beverage sector.
U.S.-based packaging group Multi-Color Corp. is acquiring the labels division of German packager Constantia Flexibles GmbH for about US$1.3 billion.
In a statement, Batavia, Ohio-based Multi-Color said that the deal would complement its wine and spirits business with what it called Constantia’s strength in the food and beverage sector. Multi-Color said it will use Constantia’s European reach in seeking growth opportunities in the home and personal care sectors.
Two representatives of Constantia Flexibles will join Multi-Color’s Board of Directors.
Mike Henry, head of the Constantia Labels, is expected to become CEO-elect of Multi-Color, the statement said.
Constantia Labels is a global supplier of labels to the beverage, food and home, and personal care industries. It has 23 plants in 14 countries, with approximately 2,800 employees.
Multi-Color was founded in 1916. It employs about 5,500 employees and operates 45 manufacturing facilities worldwide.