Carton Pack, a portfolio company of A&M Capital Europe (“AMCE”), a London-based middle-market private equity firm with €650 million of assets under management, has agreed to acquire Ondapack (the “Company”), an Italian paper, carton board and corrugated packaging producer from its founding family.
Founded in 1956, Ondapack primarily serves the fruit & vegetable end-market, as well as other food and industry segments. The Company employs ~70 people. Carton Pack has a long-standing commercial relationship with Ondapack and its founders, the Morgese family. The Company will continue to be led by its management team, including CEO Antonella Morgese.
The acquisition further enhances Carton Pack’s footprint in sustainable fibre-based products while expanding into new end-markets and is consistent with Carton Pack’s strategy to become a leading European food packaging specialist with a multi-material product offering. The transaction is Carton Pack’s first add-on acquisition since AMCE acquired a majority stake in the company in April 2022.
AMCE and Carton Pack were advised by Chiomenti and Weil, Gotshal & Manges as legal advisers and KPMG as accounting and tax advisers.
About Carton Pack
Headquartered in Puglia, Italy, Carton Pack provides specialist multi-material packaging solutions for the fruit & vegetable and ready-to-eat markets across Europe. The Company employs ~400 people and operates from 3 production facilities and 17 warehouses across Italy and Spain.
About A&M Capital Europe
AMCE is a pan-European, London-headquartered, middle-market private equity firm specialising in providing strategic and operational support to growing European businesses. AMCE Fund I currently has €650 million of assets under management, and Ondapack represents AMCE’s eleventh transaction. More broadly, AMCE is part of A&M Capital, a multi-strategy private equity investment firm with €4.3 billion in assets under management across four investment strategies. In addition, A&M Capital maintains a strategic association with Alvarez & Marsal, one of the world’s largest operationally focused advisory firms. For additional information, please visit A&M Capital’s website at www.a-mcapital.com.