Multi-Color Corporation has bought the labels division of Constantia Flexibles from Constantia Flexibles GmbH in a cash and equity transaction valued at approximately US$1.3 billion.
The combined annual revenues of the two businesses will be approximately US$1.7 billion.
The combination brings together Constantia Labels’ food and beverage business with Multi-Color’s home and personal care and wine and spirits platforms, as well as its emerging global position in healthcare.
The acquisition will provide additional growth opportunities for Multi-Color in home and personal care through Constantia Labels’ European operational footprint and assets.
Meanwhile, Constantia Labels will expand in the food and beverage sector through Multi-Color’s US operational footprint and assets.
The stronger combined footprint in Asia will provide further revenue opportunities.
About 2,800 Constantia’s associates joined the Multi-Color team, as well as Mike Henry, current executive VP and head of Constantia Labels, who will be appointed CEO in January 2018.