Carton Pack, a portfolio company of A&M Capital Europe (“AMCE”), a London-based middle-market private equity investment firm with €650 million of assets under management, has completed the acquisition of Smilesys (the “Company”), an Italian producer of resealable and sustainable packaging products from its founders.
Founded in 2013, Smilesys primarily serves the fruit & vegetable end-market and the snacks and bakery segments. The Company is headquartered in Veneto (Northern Italy). Smilesys focuses on resealable solutions that enhance shelf-life, reduce food waste and can be applied to compostable materials, with ~95% of final products sold outside of Italy. The Company will continue to be led by its management team, including CEO Ernesto Zanarella.
The acquisition further enhances Carton Pack’s footprint in sustainable products while expanding into innovative technologies. In addition, it 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 second add-on acquisition since AMCE acquired a majority stake in Carton Pack in April 2022.
AMCE and Carton Pack were advised by Chiomenti, as legal counsel for M&A and corporate matters, and Gattai, as legal counsel for financing matters, KPMG as accounting and tax advisers and Ramboll as environmental, health & safety adviser.
About Carton Pack
Headquartered in Puglia, Italy, Carton Pack provides specialist multi-material packaging solutions for Europe’s fruit & vegetable and ready-to-eat markets. Carton Pack employs ~500 people and operates from 4 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 investment firm specialising in providing financial, strategic and operational support to growing European businesses. AMCE Fund I currently has €650 million of assets under management, and Smilesys represents AMCE’s fourteenth transaction. More broadly, AMCE is part of A&M Capital, a multi-strategy private equity investment firm with €4.5 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.
