Wendel-backed Constantia Flexibles to acquire Propak for £99m.

Wendel-backed Constantia Flexibles, a manufacturer of flexible packaging, agreed to acquire Propak, a player in the European packaging industry for the snacks market. The transaction is expected to be completed in Q2 2021, pending regulatory approvals, for £99m. “The acquisition of Propak fits perfectly in our Vision 2025 growth strategy and brings Constantia Flexibles a good platform in the growing European snacks market. It will also give us the opportunity to accelerate our more sustainable EcoLam Mono-PE innovation for the salty snacks market. I am looking forward to working with the management team at Propak in helping to bring the company to the next level,” Pim Vervaat, Constantia Flexibles CEO.