Wendel to Purchase Constantia Flexibles from One Equity
December 30, 2014
Wendel has agreed to purchase a majority interest in Constantia Flexibles, a provider of flexible packaging and labeling solutions, from One Equity Partners. Valuing Constantia at €2.3 billion, or around 9x estimated 2014 EBITDA, the deal is expected to close in 1H 2015. Constantia currently boasts over 3,000 customers worldwide, employing more than 8,000 at 43 industrial sites; it has recorded an average annual growth rate of 8.6% over the last decade and 2013 sales of €1.6 billion. One Equity has backed it since 2009.