Constantia Flexibles is a global leader in flexible packaging. The group produces flexible packaging solutions for the consumer and pharmaceutical industries.
€565m since 2015 (2)
2% top evaluated companies
-67% since 2015
Founded by Herbert Turnauer in the 1960s, the Vienna-based Constantia Flexibles group produces flexible packaging solutions, for the consumer and pharmaceutical industries. Constantia Flexibles has successfully developed its activities outside Europe and, over the last five years, has become a global leader in flexible packaging. The group now has c. 8,800 employees in 22 countries.
The flexible packaging market for fast moving consumer goods, in which Constantia Flexibles operates, offers a combination of stability and growth. The business of Constantia Flexibles is largely independent of economic cycles because the group caters to the daily needs of end consumers. In addition, there are long-term megatrends supporting the growth of the flexible packaging market, such as urbanization and the increased consumption of single portions, tied in with the decreasing size of households and the development of the middle classes, especially in emerging markets. For several years, this market’s growth has outpaced that of the economy in GDP terms, whether in developed or emerging countries.
In this fast-growing, resilient but highly fragmented market, Constantia Flexibles has definite competitive advantages enabling it to play a decisive role in the consolidation of the flexible packaging industry and offering long-term growth potential, such as:
On March 27, 2015, Wendel announced it had finalized the acquisition of Constantia Flexibles for an enterprise value of €2.3 billion, or around 9x 2014 EBITDA, and had invested €640 million in equity for a 73% stake in the Company, alongside the AREPO Foundation’s €240 million, 27% investment. Subsequently, on September 22, 2015, Wendel signed an agreement with Maxburg Capital Partners (“MCP”), an investment company backed by the RAG Foundation, to syndicate a minority share of its investment in Constantia Flexibles. Accordingly, in November 2015, MCP acquired approximately 11% of the capital of Constantia Flexibles from Wendel for €101 million.
Following this transaction, Wendel, the AREPO Foundation and MCP participated in a €50 million capital increase for Constantia Flexibles, each subscribing to a pro-rata stake, to finance the acquisitions of Afripack and Pemara.
Following the capital increase and MCP’s entry into the capital of Constantia Flexibles, Wendel’s equity investment in Constantia Flexibles totalled €565 million. Wendel is the Company’s controlling shareholder, with 60.6% of the share capital.
Constantia Flexibles will pursue 3 priorities as part of its Value Creation Program:
Integrating Corporate Social Responsibility (CSR) commitments in respect for the environment into its business activities, Constantia Flexibles pays particular attention to continual improvements in the consumption of raw materials, which are essentially aluminum, plastics, paper, and chemicals like inks and solvents. Already in 2018, Constantia Flexibles pledged that 100% of its packaging solutions will be recyclable by 2025 and has set an absolute GHG emission reduction target in accordance with climate science. Accordingly Constantia Flexibles uses appropriate procedures to monitor the possible impact of its products on the environment, in particular by performing life cycle assessments.
Constantia Flexibles understands the value of initiatives supportive of sustainable improvements of its products as a great opportunity to accelerate success factors by building up for long-term relationships with our key stakeholders. Constantia Flexibles’ ambition is to supply flexible, superior packaging solutions that improve people’s daily lives. This priority takes the form of global initiatives implemented by the Group which far surpass legal requirements.
100% recyclable products by 2025, as part of its signing of the New Plastics Economy's global commitment.
In 2019, opening of Ecoflex Ahmedabad, the first plant in the world designed to produce recyclable flexible packaging only.
A 40% reduction in Greenhouse Gas (GHG) emissions by 2023 compared to 2005 (Scope 1 and 2 emissions).
“Zero loss - No harm” ambition notably illustrated by a 67% reduction of lost time injury frequency rate since 2015 (date of entry into Wendel’s portfolio).
Active participation in sectoral projects and initiatives related to the supply chain (eg Plastics New Economy, CEFLEX, Sustainable Packaging Coalition, Save Food initiative of the UN)
Josselin de Roquemaurel
Josselin de Roquemaurel
Josselin de Roquemaurel