Amcor sells Tobepal units to Constantia Flexibles

The Austrian company has agreed to pay €92m for the Tobepal business, which is expected to generate sales of around €103m for the period 2009/10 and an EBIT result of around €11m.

Tobepal has manufacturing operations at Burgos and Logrono in Northern Spain, and is a supplier of flexible packaging to the pharma, food and household goods sectors.

The transaction has been approved by the EU and is expected to close within months.

Constantia Flexibles is a major supplier of flexible packaging products including lacquered and laminated aluminium foils and plastics laminates, bags, pouches, labels and blister pack substrates. The company generated sales of €976.5m in 2009.

Constantia Flexibles is the largest of three units within the €1.7bn Constantia Packaging operation, which is 91.5% owned by One Equity Partners via Sulipo Beteiligungsverwaltungs. Sulipo initiated a “squeeze out”procedure last month to gain control of the outstanding shares in the business at a price of €47 each.