- Client:Carton Pack S.p.A.
- Date:March 2022
- Deal description:
Vitale assisted 21 Invest and the Leone family in the signing of a binding agreement for the sale of a controlling stake in Carton Pack S.p.A.
A&M Capital Europe (“AMCE”), a leading European middle market private equity operator based in London and under management of 650 million euros, has signed an agreement for the acquisition of control of Carton Pack, an Italian group leader in the development, production and marketing of packaging multi-material for the food sector, with particular specialization in the segments fruit and vegetables and "ready to eat"
Carton Pack, founded in 1970 by the Leone family and headquartered in Bari, is today one of the leading Italian producers of packaging for the fruit and vegetable sector. Over the years it has developed an important international presence (approx. 30% of sales are generated abroad) and it has expanded its product portfolio towards innovative and sustainable materials such as recycled PET, paper, cardboard and pulp paper. The company has about 400 employees with 3 production sites and 15 distribution centres between Italy and Spain, serving over 1,300 customers in 40 international markets through an innovative and multi-material approach.
In 2018, the controlling share of the company was acquired by 21 Invest, a European investment group founded by Alessandro Benetton, which has since supported the company's ambitious development path, directing its growth and internationalization process and taking care of its managerialization.
AMCE will acquire a majority stake of the company and it will be supported by Gianni and Giuseppe Leone, both through the re-investment in the company with an important minority stake and by maintaining their respective managerial roles. The partnership with AMCE will allow Carton Pack to consolidate its leadership in the European market, expanding its product portfolio, international presence and reference markets.
Vitale acted as financial advisor to 21 Invest and the Leone family, offering support in the selection of the partner, in the due diligence process, in the structuring of the transaction and in the negotiation phases.
- Deal value: