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Constantia to buy Spear

Austria’s Constantia Flexibles Group is to acquire the US-based Spear Group, supplier of pressure sensitive labels for the beverage industry.

Austria’s Constantia Flexibles Group is to acquire the US-based Spear Group, supplier of pressure sensitive labels for the beverage industry.

The parties have not disclosed the price of the transaction, which is subject to regulatory approval.

Constantia CEO Thomas Unger comments: "We will be able to serve our customers even better together with Spear, a leading beverage labels business with a highly attractive, global, blue-chip customer base.

"Its 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 has sales of approximately US$195 million with 650 employees located at four facilities in North America, one in Europe, one in South Africa, and a sales office in Singapore. The group has a growing business which provides re-sealable products to the food and snack markets.

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