Constantia Flexibles Group has strengthened its position in the European pharmaceutical packaging industry through the acquisition of the flexible packaging business owned by the Italian company Lamp San Prospero SPA via an asset deal.

The acquisition is carried out by Constantia Flexibles in the context of a competitive auction as part of a restructuring process (‘concordato preventivo’) governed by the Court of Modena in Italy. The transaction is expected to be completed in the coming weeks.

Modena-based Lamp was founded in 1963 and belongs to privately-owned VIMA Holding. Its core products are printed aluminum blister foil and coldform slitting for major pharmaceutical companies. Lamp achieved sales of approximately €15 million in 2015 and currently has about 50 employees.

”Lamp gives us greater access to the Southern European pharmaceutical market and fits in with our satellite production concept in Europe, which optimizes production and logistic processes, thus providing best-in-class service close to our customers’ facilities,” said Pierre-Henri Bruchon, executive vice president and head of Constantia Flexibles’ Pharma division.