M&A Activity • Oct 5, 2016
M&A Activity
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P R E S S R E L E A S E – O C T O B E R 5 , 2016
Wendel welcomes the acquisition by Constantia Flexibles of the flexible packaging business owned by the Italian company Lamp San Prospero SPA via an asset deal.
The acquisition is carried out by Constantia Flexibles in the context of a competitive auction as part of a restructuring process ('concordato preventivo') governed by the Court of Modena in Italy. The transaction is expected to be completed in the coming weeks.
Modena-based Lamp was founded in 1963 and belongs to privately-owned VIMA Holding. Its core products are printed aluminum blister foil and coldform slitting for major pharmaceutical companies. Lamp achieved sales of approximately 15 million euros in 2015 and currently has about 50 employees.
Constantia Flexibles Pharma division is the world's second largest flexible packaging manufacturer for the pharmaceutical. It operates production sites in Austria, Germany, Spain, Vietnam, the UK and Belgium.
The Pharma division has annual sales of approximately 330 million euros and supplies over 1,000 global customers, including multinational corporations and local market leaders. The division has about 1,300 employees.
Since Wendel became the reference shareholder of Constantia Flexibles, the company has already made 3 other acquisitions. The acquisition of Lamp's flexible is the second one in the pharmaceutical packaging after Oai Hung in Vietnam.
These transactions will contribute positively to Constantia Flexibles long-term value creation. Wendel is the main shareholder of Constantia Flexibles with 60.5% of its share capital.
2016 Investor Day / Publication of NAV and trading update (pre-market release) In London
2016 full-year earnings / Publication of NAV (pre-market release) In Paris
Shareholders' Meeting / Publication of NAV and trading update (before Shareholders' Meeting)
9/7/2017
H1 2017 earnings / Publication of NAV (pre-market release)
By conference call
2017 Investor Day / Publication of NAV and trading update (pre-market release)
Wendel is one of Europe's leading listed investment firms. The Group invests internationally, in companies that are leaders in their field, such as Bureau Veritas, Saint-Gobain, Cromology, Stahl, IHS, Constantia Flexibles and Allied Universal. Wendel plays an active role as industry shareholder in these companies. It implements long-term development strategies, which involve boosting growth and margins of companies so as to enhance their leading market positions. Through Oranje-Nassau Développement, which brings together opportunities for investment in growth, diversification and innovation, Wendel is also a shareholder of exceet in Germany, Mecatherm in France, Nippon Oil Pump in Japan, Saham Group and SGI Africa in Africa and CSP Technologies in the United States.
Wendel is listed on Eurolist by Euronext Paris.
Standard & Poor's ratings: Long-term: BBB-, stable outlook – Short-term: A-3 since July 7, 2014. Wendel is the Founding Sponsor of Centre Pompidou-Metz. In recognition of its long-term patronage of the arts, Wendel received the distinction of "Grand Mécène de la Culture" in 2012.
For more information: www.wendelgroup.com
Follow us on Twitter @WendelGroup and@_FLemoine_
Press contacts Analyst and investor contacts Christine Anglade-Pirzadeh: +33 (0)1 42 85 63 24 Olivier Allot: +33 (0)1 42 85 63 73
Caroline Decaux: +33 (0)1 42 85 91 27 Elisa Muntean: +33 (0)1 42 85 63 67 [email protected] [email protected]
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