Constantia Flexibles sells folding carton business in Mexico (Aluprint Plegadizos) to Gondi
27 May 2016
Constantia Flexibles sells folding carton business in Mexico (Aluprint Plegadizos) to Gondi
Constantia Flexibles Group has agreed to sell its non-core folding carton activities in Mexico, Aluprint Plegadizos, to Mexican company Grupo Gondi for an undisclosed amount. The transaction requires anti-trust approval from the Mexican authorities and is expected to be completed in the coming months.
Aluprint Plegadizos is located at a modern site in San Luis Potosi, with approximately 600 employees. It manufactures folding cartons and high graphics micro-corrugated boxes for the fast moving consumer goods industry in Mexico, the U.S., Canada, Central America and the Caribbean.
Constantia Flexibles acquired Aluprint Plegadizos as part of its takeover of Globalpack in 2013. This is the only folding carton business within Constantia Flexibles and was not considered part of the core flexible packaging and labels activities. Mexico remains a key production hub for the Group, with its site in San Luis Potosi for flexible packaging and its site in Monterrey for labels.
"We believe Gondi can offer Aluprint Plegadizos' dedicated workforce and valuable customers an excellent platform to enjoy further success in a highly attractive region," said Constantia Flexibles' CEO Alexander Baumgartner.
"We are very excited with this acquisition as it adds to Gondi's portfolio a leading folding carton producer in Mexico, thus offering our customers a more complete range of premium packaging options. With Aluprint Plegadizos' experience and market insight and Gondi's technological drive and integration, we will offer the best alternative to customers in Mexico in the growing, high value-added packaging market," said Eduardo Posada, CEO of Gondi.
