Constantia Flexibles sells Labels division to Multi-Color
Constantia Flexibles has signed an agreement to sell its Labels division to Multi-Color Corporation (“Multi-Color”) for an enterprise value of approximately €1.15 billion ($1.3 billion). The transaction is expected to be completed in the fourth quarter of 2017, subject to regulatory approvals.
The majority of the transaction is payable in cash, while Constantia Flexibles will also receive Multi-Color stock. On completion of the transaction, Constantia Flexibles will hold 16.6% of Multi-Color’s outstanding shares, thereby becoming its largest shareholder. Two representatives of Constantia Flexibles will join Multi-Color’s Board of Directors.