Austria-based Constantia Flexibles Group has signed an agreement to acquire Spear Group, a supplier of pressure sensitive labels for the beverage industry.
The move is part of the international growth strategy of Constantia to further grow and expand in the global labels market.
Spear has sales of approximately $195m with 650 employees located at four facilities in North America, one site in Europe (Wales/UK), one site in South Africa and a sales office in Singapore.
Constantia Flexibles CEO Thomas Unger said, "The Group's outstanding technological capabilities present many opportunities for continued profitable growth. We look forward to partnering with Spear's excellent management team to capture the benefits from combining our businesses."
Spear CEO Rick Spear said, "This combination will enhance our leadership position in the technological development of pressure sensitive labeling for primary brand decoration."
The acquisition is subject to regulatory approval.
Constantia Flexibles offers flexible packaging solutions to industries, including beverage, food, pet food and pharmaceutical industries.
