Constantia Flexibles Group (Vienna, Austria) is expanding its reach in the European pharmaceutical packaging industry through the acquisition of the flexible packaging business owned by the Italian company Lamp San Prospero SPA (Modena, Italy) via an asset deal.
The transaction is planned to be finalized in the coming weeks. Financial terms of the deal were not disclosed.
The acquisition is carried out by Constantia Flexibles in the context of a competitive auction as part of a restructuring process governed by the Court of Modena in Italy.
Founded in 1963, Lamp belongs to privately-owned VIMA Holding. Its core products are printed aluminum blister foil and coldform slitting for major pharmaceutical companies. Lamp achieved sales of approximately €15 million in 2015 and currently has about 50 employees.
“Lamp gives us greater access to the Southern European pharmaceutical market and fits in with our satellite production concept in Europe, which optimizes production and logistic processes, thus providing best-in-class service close to our customers’ facilities,” said Pierre-Henri Bruchon, Executive Vice President and Head of Constantia Flexibles’ Pharma division.
Constantia Flexibles Pharma division is the world’s second largest flexible packaging manufacturer for the pharmaceutical and Home & Personal Care industries with over 3,000 customers and 10,000 employees worldwide. It operates 55 production sites in Austria, Germany, Spain, Vietnam, the UK and Belgium.
The Pharma division has annual sales of approximately €330 million and supplies over 1,000 global customers, including multinational corporations and local market leaders. The division has about 1,300 employees.
Constantia Flexibles recently acquired the labels company Pemara in Southeast Asia, the flexible packaging company Afripack in South Africa and the pharmaceutical packaging company Oai Hung in Vietnam.