The Competition Commission of India (CCI) has approved the proposed acquisition of certain shareholding in Constantia Flexibles Holding GmbH (Constantia) by Capripack BidCo GmbH (Capripak).

The proposed combination relates to the acquisition of sole control by Capripack over Constantia by way of acquisition of 100% of its shareholding and voting rights from Constantia Lux S.à r.l. (Seller).

Capripack BidCo GmbH is an acquisition vehicle indirectly majority owned by investment funds managed and advised by One Rock Capital Partners, LLC (ORC). ORC is a private equity firm, headquartered in New York, United States of America, focusing on control-stake equity investments in middle-market companies. ORC manages funds that invest in portfolio companies operating within various industries, including chemicals and process industries, specialty manufacturing and healthcare products, food manufacturing and distribution, and business and environmental services.

Constantia Flexibles Holding GmbH, is wholly owned by the Seller, which is indirectly controlled by funds managed or advised by affiliates of Wendel SE (together, Wendel Group), a French investment company. Constantia is a global producer of flexible packaging products headquartered in Austria. Its products are mainly based on aluminium (foil), film and paper and the product portfolio includes flexible packaging materials for everyday use products such as food, dairy, pet food, household and personal care products, pharmaceutical and medical products, as well as beverages.

Detailed order of the CCI will follow.

Merger control clearance for acquisition creating sole control over a global flexible-packaging company; detailed order to follow. The Commission approved a notified combination in which Capripack BidCo GmbH will acquire sole control of Constantia Flexibles Holding GmbH by purchasing 100% of its shareholding and voting rights from Constantia Lux S.a r.l. Capripack is an acquisition vehicle indirectly majority owned by funds managed or advised by One Rock Capital Partners; the seller is indirectly controlled by funds affiliated with the Wendel Group. Constantia is a global flexible-packaging producer whose products include aluminium foil, film and paper-based materials for food, pharmaceutical, household and other end uses. A detailed order will follow.