One Rock Capital Partners Announces Acquisition of Constantia Flexibles From Wendel

NEW YORK, July 31, 2023 – One Rock Capital Partners, LLC (“One Rock”) today announced one of its affiliates has entered into a definitive agreement to acquire Constantia Flexibles (“Constantia” or the “Company”), a leading global packaging manufacturer, from Wendel (Euronext: MF.FP), one of Europe’s leading listed investment firms.

Constantia is the partner of choice for flexible packaging to more than 4,000 pharmaceutical, food and consumer goods customers. With a team of over 7,000 employees, the Company manufactures and provides custom packaging solutions across the globe.

“Constantia has grown through acquisition and innovation to be a leader serving its food and pharma customers,” said Telmo Valido, Partner at One Rock. “We look forward to partnering with Constantia’s management team to continue innovating to solve for the evolving packaging needs and sustainability requirements of the Company’s customers.”

“We are very pleased to welcome Constantia Flexibles to the One Rock family,” added Kurt Beyer, Partner at One Rock. “We believe our strategic and operational resources will complement management’s efforts to pursue Constantia’s growth initiatives while maintaining the standards of quality and service valued by its customers.”

“In recent years under Wendel’s ownership, Constantia Flexibles transformed its business performance, developed an innovative pipeline of more sustainable products and completed multiple acquisitions,” said Pim Vervaat, CEO at Constantia. “With diverse geographic and end market presence, the Company is well-positioned to continue expanding its suite of packaging solutions amidst regulatory developments and a changing climate, and we look forward to partnering with One Rock during this next chapter.”

J.P. Morgan served as lead financial advisor and Latham & Watkins LLP served as legal advisor to One Rock on the transaction. Willkie Farr & Gallagher LLP served as legal advisor and Evercore served as financial advisor to Constantia.

ABOUT ONE ROCK CAPITAL PARTNERS, LLC

One Rock makes controlling investments in companies with potential for growth and operational improvement using a rigorous approach that utilizes highly experienced Operating Partners to identify, acquire and enhance businesses in select industries. The involvement of these Operating Partners affords One Rock the ability to conduct due diligence and consummate acquisitions and investments in all types of situations, regardless of complexity. One Rock works collaboratively with company management and its Operating Partners to develop a comprehensive business plan focused on growing the enterprise and its profitability to enhance long-term value. For more information, visit www.onerockcapital.com.

ABOUT CONSTANTIA FLEXIBLES

Constantia is the world’s third-largest producer of flexible packaging. Based on the guiding principle of ‘People, Passion, Packaging’, some 7,650 employees manufacture tailor-made packaging solutions at 30 sites in 16 countries. Many international companies and local market leaders from the consumer and pharma industries choose the sustainable and innovative products of Constantia Flexibles. Sustainability is a top priority in product development at Constantia Flexibles: the company was rated Level A- by Climate Change Leadership (CDP) and Gold by EcoVadis in 2022. For more information, visit www.cflex.com.