ALUFLEXPACK acquired by CONSTANTIA FLEXIBLES
Context
Constantia Flexibles has successfully completed the acquisition of a majority stake in Aluflexpack AG. The transaction was structured in two phases: the acquisition of a 57% controlling block from the main shareholders, followed by an all-cash public tender offer for all remaining publicly held shares. The strategic rationale for the merger is to create a European champion in flexible packaging with an enhanced technology portfolio and a significantly broader geographical footprint, specifically expanding Constantia's presence in Poland, Türkiye, and Southeast Europe. The combination is expected to drive substantial synergies in R&D and sustainable product development, particularly in the aluminum-based segments for coffee and pharma. Following the acquisition, Aluflexpack will be integrated into the Constantia Flexibles Group, though it will continue to leverage its specialized production facilities to serve its established customer base under the new unified growth trajectory.
ALUFLEXPACK, which reported an EBITDA margin of in 2023, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Industry & Manufacturing sector (11.6x).
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Target
Headquartered in Reinach, Switzerland, Aluflexpack is a high-growth European leader in premium flexible packaging, specializing in foil and film solutions. The company’s business model focuses on custom-made packaging for highly demanding end-markets, including Coffee & Tea, Pharmaceuticals, Pet Food, Confectionery, and Dairy. Aluflexpack operates 14 locations (including 9 production facilities) across countries such as Switzerland, France, Poland, Türkiye, and Croatia. Its value proposition is built on deep technical integration (from aluminum rolling to high-end printing and converting) allowing for extreme flexibility in customer service and rapid innovation. As of late 2024, the company employed approximately 1,700 people and had established a dominant footprint in Southeast Europe, serving both local market leaders and large international corporations with sustainable and specialized foil-based barrier solutions.
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REFERENCES
Valuation range: EV 300M - 700M EUR
Revenue range: 250M - 500M EUR
EBITDA range: 25M - 50M EUR
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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Press release: view release
Acquirer: constantia flexibles