KPS Capital Partners Acquires MM Packaging to Enhance Growth Strategy
On November 11, 2026, KPS Capital Partners, LP announced a definitive agreement to acquire MM Packaging from Mayr-Melnhof Karton AG for an enterprise value of €2.4 billion. This acquisition marks a significant move in the packaging industry, as MM Packaging will continue its operations as a separate entity while retaining the name MM Packaging. The transition is subject to customary corporate and regulatory approvals, with additional consultations required for the French operations involving employee representatives.
MM Packaging is a reputable global leader in consumer packaging solutions. It specializes in a diverse range of products including folding cartons, labels, leaflets, and package inserts, primarily serving industries such as food and beverages, pharmaceuticals, health care, cosmetics and personal care, as well as household cleaning products. Headquartered in Vienna, Austria, MM Packaging operates more than 50 production facilities across 19 countries, employing around 8,500 people globally. Significantly, it stands as the largest producer of secondary pharmaceutical packaging worldwide and one of the leading manufacturers of folding cartons for food in Europe. With a strong track record of client relationships, many of which have lasted over two decades, MM Packaging emphasizes its commitment to quality and service.
Michael Psaros, co-founder and managing partner of KPS, expressed enthusiasm for enhancing MM Packaging’s independent operations. He stated, "We recognize MM Packaging's standing as an industry leader and look forward to elevating its capabilities. The trust that MM Group has placed in KPS is highly appreciated, and we are eager to collaborate closely. Our extensive experience in the packaging sector utilizing fiber, cardboard, and metal as primary resources will be instrumental in driving MM Packaging's growth."
Peter Oswald, CEO of MM Group, commented that this transaction would accelerate MM Packaging’s growth under KPS's stewardship, highlighting KPS’s proven expertise in managing large, multinational manufacturing and industrial firms. The 30% interest that MM Group will retain allows them to share in the future value creation of the company, ensuring an ongoing partnership.
KPS Capital Partners has over three decades of experience in private equity, managing around $19.1 billion across its affiliated management entities, primarily focusing on transformative investments in manufacturing and industrial sectors. The strategy revolves around acquiring control stakes in companies and enhancing their investment returns through operational improvements rather than relying solely on financial leverage.
MM Group is a leader in sustainable fiber-based consumer packaging solutions, dedicated to improving people's lives while preserving the planet. Their expertise includes a range of products centered around recyclability, such as cardboard, kraft paper, and labels. Being a publicly listed company, MM Group commits to long-term vision coupled with environmental accountability and initiatives aimed at creating innovative packaging that meets sustainable outcomes.
The transaction signifies an exciting new chapter for MM Packaging as it embarks on this journey under the guidance of KPS, aiming to optimize its operations and expand its reach in the global marketplace. With the backing of KPS’s resources and expertise, MM Packaging is poised to capture new opportunities and further solidify its position in the competitive packaging sector, paving the way for continued innovation and sustainability in its product offerings.
MM Packaging is a reputable global leader in consumer packaging solutions. It specializes in a diverse range of products including folding cartons, labels, leaflets, and package inserts, primarily serving industries such as food and beverages, pharmaceuticals, health care, cosmetics and personal care, as well as household cleaning products. Headquartered in Vienna, Austria, MM Packaging operates more than 50 production facilities across 19 countries, employing around 8,500 people globally. Significantly, it stands as the largest producer of secondary pharmaceutical packaging worldwide and one of the leading manufacturers of folding cartons for food in Europe. With a strong track record of client relationships, many of which have lasted over two decades, MM Packaging emphasizes its commitment to quality and service.
Michael Psaros, co-founder and managing partner of KPS, expressed enthusiasm for enhancing MM Packaging’s independent operations. He stated, "We recognize MM Packaging's standing as an industry leader and look forward to elevating its capabilities. The trust that MM Group has placed in KPS is highly appreciated, and we are eager to collaborate closely. Our extensive experience in the packaging sector utilizing fiber, cardboard, and metal as primary resources will be instrumental in driving MM Packaging's growth."
Peter Oswald, CEO of MM Group, commented that this transaction would accelerate MM Packaging’s growth under KPS's stewardship, highlighting KPS’s proven expertise in managing large, multinational manufacturing and industrial firms. The 30% interest that MM Group will retain allows them to share in the future value creation of the company, ensuring an ongoing partnership.
KPS Capital Partners has over three decades of experience in private equity, managing around $19.1 billion across its affiliated management entities, primarily focusing on transformative investments in manufacturing and industrial sectors. The strategy revolves around acquiring control stakes in companies and enhancing their investment returns through operational improvements rather than relying solely on financial leverage.
MM Group is a leader in sustainable fiber-based consumer packaging solutions, dedicated to improving people's lives while preserving the planet. Their expertise includes a range of products centered around recyclability, such as cardboard, kraft paper, and labels. Being a publicly listed company, MM Group commits to long-term vision coupled with environmental accountability and initiatives aimed at creating innovative packaging that meets sustainable outcomes.
The transaction signifies an exciting new chapter for MM Packaging as it embarks on this journey under the guidance of KPS, aiming to optimize its operations and expand its reach in the global marketplace. With the backing of KPS’s resources and expertise, MM Packaging is poised to capture new opportunities and further solidify its position in the competitive packaging sector, paving the way for continued innovation and sustainability in its product offerings.
Topics Business Technology）
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