Multi Packaging Solutions, which is backed by Irving Place Capital, will acquire Cartondruck AG, a company based in Obersulm, Germany. Financial terms of the deal were not released. Cartondruck is a manufacturer of packaging for the cosmetics, confectionery, consumer and healthcare markets in Europe and the U.S. Multi Packaging Solutions makes packaging for cosmetics, healthcare, horticulture, media and consumer markets.
Multi Packaging Solutions, Inc. (“MPS”), a leading manufacturer of print and packaging for the cosmetics, healthcare, horticulture, media, and consumer markets today announced that it has signed a definitive purchase agreement with CD CARTONDRUCK AG, (“CARTONDRUCK”) headquartered in Obersulm, Germany.
CARTONDRUCK is a leading manufacturer of premium packaging for the cosmetics, confectionery, consumer, and healthcare markets in Europe and the U.S., with a reputation for innovation and excellence. The purchase offers significant advantages for current and future customers by streamlining the global supply chain and enhancing product and technology innovation.
Commenting on the acquisition, Marc Shore, Chief Executive Officer of MPS stated, “The partnership with CARTONDRUCK is a great fit for MPS and our multinational and regional customers. It creates a global manufacturing platform offering an unparalleled range of products, design resources, print technologies, and manufacturing capabilities. We welcome the dedicated CARTONDRUCK employees to the MPS team and look forward to working with them to continue our strategic path forward.”
Steffen and Marc Schnizer, the managing partners for CARTONRUCK, will continue to have responsibility for the European operations and will be important members of the MPS Management Team. As part of the transaction, they have also become shareholders of MPS.
“This is an exciting milestone in our company’s history,” commented Steffen Schnizer, Head of Marketing and Sales, “In joining with MPS, we now have additional resources to expand our offering in Poland, Germany, and the U.S. We’ve always had a tremendous commitment to our customers and the combined offering will further enhance our commitment.”
Marc Schnizer, Head of Finance, Technology and Administration, added, “Since the founding of CARTONDRUCK in 1969, we have continually invested in innovation and growth to support our customers’ need for premium packaging. Joining forces with MPS adds significantly to our depth of resources and breadth of experience.”
Financial terms of the transaction were not disclosed.
Multi Packaging Solutions:
Multi Packaging Solutions, a portfolio company of Irving Place Capital, is a leading manufacturer of print, packaging, labels, inserts, and POP for the cosmetics, healthcare, horticultural, media, and value added consumer markets. With the addition of CARTONDRUCK, MPS has 18 manufacturing locations in the U.S. and Europe. The company’s seasoned management, sales, and design teams bring vast experience in print and packaging to current and future customers. Unlike traditional packaging companies, MPS is unique in its depth of industry experience, breadth of technologies and range of resources. More information is available at www.multipkg.com.
CARTONDRUCK is a worldwide leading manufacturer of high quality folding cartons with plants located in Germany, Poland, and the U.S. The most renowned names in the fragrance, cosmetic and hair-colour industry as well as the luxury and the chocolate industries choose the exclusive folding boxes from CARTONDRUCK to present their quality products. CARTONDRUCK offers innovative packaging solutions and a host of ground-breaking printing and finishing possibilities.
Irving Place Capital
Irving Place Capital invests private equity capital in compelling buyouts, recapitalizations, and growth capital opportunities alongside superior management teams. Irving Place Capital focuses on making control or entrepreneur-driven investments. Since its formation in 1997, Irving Place Capital has been an investor in more than 50 companies and has raised over $4 billion of equity capital, including its current $2.7 billion institutional fund.