Clearwater has advised A&M Capital Europe, a leading European middle-market private equity firm, on the acquisition of the majority stake in Carton Pack, a market-leading provider of tailored packaging solutions to the fruit and vegetable industry, from 21 Invest.
Founded in 1970 by the Leone family and headquartered in Bari, Italy, Carton Pack is a leading Italian group in the development, production, and sale of multi-material packaging for the food sector, with expertise in the fruit and vegetable and ’ready-to-eat’ segments. Over the years, the company has developed an important international presence with approximately 30% of sales being generated abroad and has extended its product portfolio towards innovative and sustainable materials such as recycled PET (Polyethylene Terephthalate), paper, cardboard, and paper pulp. With around 400 employees, Carton Pack has three production plants and 15 distribution centres in Italy and Spain, serving over 1,300 customers across 40 international markets through an innovative and multi-material approach.
In 2018, the majority stake in the company was acquired by 21 Invest, a European investment group that has been supporting the company's ambitious development path ever since, directing its growth and internationalisation process and overseeing its managerialisation.
A&M Capital Europe, strategically associated with Alvarez and Marsal, is a London-based European middle-market private equity firm with €650m under management and specialises in providing strategic and operational support to growing European companies. The acquisition of Carton Pack represents A&M Capital Europe's fifth investment, its second in Italy.
A&M Capital Europe will acquire the majority stake in the company and will be supported by Gianni and Giuseppe Leone who will maintain their respective managerial roles. The partnership with A&M Capital Europe will allow Carton Pack to consolidate its leadership in the European market and accelerate its growth also through M&A transactions.
The transaction completion is subject to the approval of the customary government.
