Constantia Flexibles Group is continuing its global growth story with the purchase of pharmaceutical packaging manufacturer Oai Hung Co., Ltd. in Vietnam. Approval from the relevant authorities is expected in the coming months. The parties have agreed to not to disclose the price of the transaction.
Headquartered in Ho Chi Minh City, Oai Hung is a family-owned company founded in 1999. It achieved sales of 25 million euro in 2015 and has currently 240 employees. The main products are aluminum blister foil and rigid film for the growing local pharmaceutical market. In addition, the company already has a meaningful presence in the dairy lidding sector having only entered this market in the last two years. The state-of-the-art production site is equipped with a clean room that meets high international standards.
“With the acquisition of Oai Hung, we have obtained our first pharmaceutical production site in Asia and entered the high growth Southeast Asian region,” said Pierre-Henri Bruchon, Executive Vice President and Head of the Pharma Division of Constantia Flexibles. “We also see Oai Hung as a hub for further expansion in the region in the future.”
“Oai Hung is delighted to be joining Constantia Flexibles. Its business and dedicated team of employees will go from strength to strength within a truly global flexible packaging group,” said O Cam Tai, CEO of Oai Hung.
Constantia Flexibles Pharma division is the world’s second largest flexible packaging manufacturer for the pharmaceutical and Home & Personal Care (HPC) industries. It operates three pre-material production sites in Austria, Germany and Spain, which serve three satellite plants in Belgium, the UK and Germany, which carry out the printing and slitting of foils and laminates.
The Pharma division has annual sales of roughly 300 million euros and supplies over 1,000 global customers, including multinational corporations and local market leaders. The division has about 1,000 employees.
Constantia Flexibles recently acquired the labels company Pemara in Southeast Asia and the flexible packaging company Afripack in Africa.