November 2024 – Carton Pack, a portfolio company of A&M Capital Europe (“AMCE”), a London-based private equity firm with €650 million of commitments under management, has acquired UK-based Clifton Packaging Group Limited (“Clifton” or the “Company”), a leading provider of innovative primary flexible food packaging solutions.
Founded in 1981 and headquartered in Leicester, UK, Clifton serves a broad range of blue-chip clients, with a particular focus on the protein and snacks markets. We believe Clifton’s speciality in recyclable films with anti-fog and anti-bacterial properties and its expertise in resealable pouches positions it as a critical player in wet protein packaging. Clifton will continue to operate under the leadership of its management team, led by CEO Shane D’Souza.
We believe this acquisition represents a significant milestone in Carton Pack’s strategy to become a leading European food packaging specialist, strengthening its footprint in flexible packaging, expanding into the attractive snacks and protein end-markets and establishing a robust presence in the UK market. The transaction is Carton Pack’s third add-on acquisition since AMCE acquired a majority stake in April 2022.
Carton Pack was advised by Chiomenti, Weil Gotshal & Manges and Charles Russell Speechlys as legal counsels for M&A and corporate matters, Weil Gotshal & Manges and Pedersoli Gattai for financing matters, PWC and EY as accounting and tax advisers, Food Strategy Associates as commercial adviser, Howden as insurance adviser and Ramboll as environmental adviser.
About Carton Pack
Founded in 1970 and headquartered in Puglia, Italy, Carton Pack provides specialist, multi-material, recyclable packaging solutions to Europe’s food markets, with a strong presence in the fruit and vegetable sector. The company’s diversified portfolio includes rigid and flexible plastics, corrugated and solid carton products, and moulded pulp. Carton Pack operates from 6 production facilities and 19 warehouses in Italy, Spain and the UK, employing ~630 people. Under AMCE ownership, the company has been executing a buy-and-build strategy in the European food packaging industry.
About A&M Capital Europe
AMCE is a London-headquartered private equity investment firm specialising in building pan-European platform companies through buy-and-build and organic growth initiatives. AMCE Fund I currently has €650 million of commitments under management, and Clifton represents AMCE’s twenty-fifth transaction across its eight portfolio companies. More broadly, AMCE is part of A&M Capital, a multi-strategy private equity investment firm that manages commitments totalling ~€5.5 billion across all its investment strategies. In addition, A&M Capital maintains a strategic association with Alvarez & Marsal, one of the world’s largest growth and operationally focused advisory firms. For additional information, please visit A&M Capital Europe’s website at www.a-mcapital.com.
