Constantia Flexibles boosts Asian presence
Constantia Flexibles has acquired a 60% stake in an Indian packaging company as part of its plan to expand in Asia.
Constantia Flexibles has acquired a 60% stake in an Indian packaging company as part of its plan to expand in Asia.
The firm sealed the deal for Parikh Packaging, which operates from Ahmedabad, north of Mumbai in the state of Gujarat, adding that the remaining shares will stay with the Parikh family.
Parikh Packaging has sales of around US$29m and around 500 employees, serving the bakery, confectionery, beverage and dairy markets.
Thomas Unger, CEO of Constantia Flexibles, said: “With this acquisition we are operating in a highly attractive growth market.
“India has an ever increasing middle class with growing demand for packaged food and health care products, which we want to address with top quality products and services.”
Source: Constantia Flexibles
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