Constantia Flexibles Group, a Vienna-based flexible packaging giant, announced that it has acquired a majority stake in India's film-based composites producer Creative Polypack.
Founded in 1986, Creative Polypack is a family-owned company and India's fourth-largest flexible packaging group, producing film-based flexible packaging for the food, home and personal care (HPC) industries, and paper-based soap packaging. The company currently employs approximately 850 people and has eight production sites located in Buddy, Kanpur, Kolkata, Assam and Vidi-Diri within northern, eastern and southern India. Senior management will continue to hold their current positions.
As the fastest growing packaging market in the world, Konstanga Flexible Packaging Group attaches great importance to India: just last month, the company announced that it will invest approximately 13 million euros to expand its son in Ahmedabad, West India. The production capacity of the company Parikh Packaging. This additional capacity plan will be put into production in 2019.
Constanta Group, the world's fourth-largest flexible packaging manufacturer, will make it the third-largest flexible packaging company in India.
The transaction is awaiting regulatory approval and is expected to be completed in the coming weeks.