17 December 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 Italy-headquartered Fimat S.p.A. (“Fimat” or the “Company”), a leading provider of paper & carton food packaging solutions.
Founded in 1933 and headquartered in the province of Milan, Northern Italy, Fimat is a renowned player in the folding carton industry, with a particular expertise in the fruit & vegetable (“F&V”) and other food end-markets, including bakery and snacks. The Company maintains a robust presence in the F&V end-markets across Northern Italy, France and Germany. The founding Fornaroli family will retain a minority stake in the Company, ensuring continuity.
We believe this acquisition represents a further positive milestone in Carton Pack’s strategy to become a leading European food packaging specialist. It strengthens its footprint in paper & carton packaging, reinforces its F&V end-market focus and expands Carton Pack into the attractive Northern Italian market, as well as France and Germany. The transaction is Carton Pack’s fourth add-on acquisition since AMCE acquired a majority stake in April 2022 and AMCE’s 26th Fund I transaction.
Alpeggiani Avvocati Associati advised Carton Pack as legal counsel for M&A and corporate matters, Spada Partners as accounting and tax advisers 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 flexible and rigid plastics, corrugated and solid carton products, and moulded pulp. Carton Pack operates from 8 production facilities and 20 warehouses in Italy, Spain and the UK, employing ~700 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 Fimat represents AMCE’s twenty-sixth 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.
