Multi-Color Corporation has completed its acquisition of the Labels Division of Constantia Flexibles from Constantia Flexibles GmbH in a cash and equity transaction valued at approximately $1.3 billion.

The combined annual revenues of the two businesses will be approximately $1.7 billion. The combination brings together Constantia Labels' high performing food and beverage business with Multi-Color's strong home and personal care and wine and spirits platforms, as well as its emerging global position in healthcare. The acquisition will provide additional growth opportunities for Multi-Color in home and personal care through Constantia Labels' European operational footprint and assets, and for Constantia Labels in food and beverage through Multi-Color's US operational footprint and assets. 

The stronger combined footprint in Asia will provide further revenue opportunities.

In a statement, the company says it is delighted to welcome Constantia's 2,800 associates to the Multi-Color team, as well as Mike Henry, current executive vice president and head of Constantia Labels, who today becomes CEO-elect of Multi-Color and will be appointed chief executive officer in January 2018.