One Equity Partners (OEP) and the H. Turnauer Foundation have agreed to sell their 100% stake in Constantia Flexibles to the Wendel Group. Wendel’s offer values the company at approximately €2.3 billion. Constantia Flexibles manufacturers flexible packaging products and labels for the food, pet food, pharmaceutical, and beverage industries. OEP acquired the company in 2009 and holds 75% of Constantia Flexibles, with 25% belonging to the H. Turnauer Foundation.

Constantia Flexibles employs more than 8,000 people in almost 80 Group companies worldwide. In 2013, the company had sales of €1.6 billion and earnings of €233 million. Since 2009, sales have grown 73%, according to OEP.
 
“We are very happy with the way that Constantia Flexibles has developed over the last five years under the ownership of OEP. Thomas Unger and the management team, along with all the employees of Constantia Flexibles, have done an excellent job. On behalf of OEP, I would like to say thank you for the outstanding cooperation,” said Melchior von Peter, managing director at OEP.
 
Thomas Unger, chief executive officer of Constantia Flexibles, said, “In recent years, Constantia Flexibles has developed from a regionally-focused provider in Europe into a globally-active group present in the most attractive and fastest growing markets for flexible packaging. We have positioned the company outstandingly for further profitable growth, and we will be working with our new owner to realize this potential in the future.”