Majority stake will enhance its footprint in sustainable products while expanding into innovative technologies
Italian packaging specialist Carton Pack has revealed that it has completed the acquisition of a majority stake in Smilesys.
Smilesys was founded in 2013 by CEO Ernesto Zanarella and is focused on manufacturing resealable and sustainable packaging products for the fruit and vegetable and food markets.
The transaction represents its second add-on acquisition since A&M Capital Europe, a London-based middle-market private equity investment firm with €650m of assets under management, acquired a majority stake in Carton Pack in April 2022.
Carton Pack noted that the acquisition enhanced its footprint in sustainable products while expanding into innovative technologies, and was consistent with its strategy to become a leading European food packaging specialist with a multi-material product offering.
“We are excited about the investment in Smilesys and look forward to partnering with the CEO Ernesto Zanarella and the rest of the management team to support the company’s ambitious growth plans, both in existing and new markets,” said Gianni Leone, CEO of Carton Pack.
“The partnership with Carton Pack and A&M Capital Europe will allow Smilesys to boost its strong commercial presence and reinforces our commitment to the next phase of growth,” added Zanarella.
