Aldebaran Capital Partners invests in Verpack

The investment fund Aldebaran Capital Partners, through its Aldebaran Transformation Fund I, signed a significant minority stake acquisition in Verpack, the Paris‑based manufacturer of premium cardboard packaging for luxury, perfume and cosmetics brands, on 25 September 2026. The transaction follows a previous minority LBO completed in 2020 that enabled an intrafamily transfer, and it marks Aldebaran’s fourth investment in the packaging sector. Aldebaran will commit between €20 million and €30 million for the purchase of the new share block, thereby becoming a reference shareholder alongside the founding family, which retains majority ownership under President Stéphane Viers. A senior debt facility was simultaneously arranged with BNP Paribas, LCL and Banque Populaire Bourgogne Franche‑Comté to finance the operation. At the time of the deal, Verpack reported a revenue of €50–100M for 2025 and has set a target of €60 million for 2026, reflecting a gradual rebound after the post‑COVID slowdown. The new capital injection is intended to accelerate organic growth in France and to fund international expansion, notably into Italy and Switzerland, where niche perfume segments are gaining momentum. Aldebaran’s strategic thesis emphasizes the company’s high‑value‑added positioning and its collaborative design model with clients, which should support margin improvement and enable future acquisitions to broaden the client portfolio and geographic reach. The luxury packaging market has resumed growth in 2026, driven by renewed consumer spending and a shift toward sustainable, premium solutions. Verpack’s ISO 26000‑aligned RSE commitment and its in‑house eco‑design capabilities position it to capture this trend. Aldebaran expects that the combination of fresh equity, disciplined leverage, and the senior debt structure will generate a leverage ratio compatible with industry standards while preserving financial flexibility for further build‑ups. The fund also plans to leverage its network of portfolio companies to explore cross‑selling opportunities and to accelerate product innovation. By retaining operational control within the founding family, the transaction preserves continuity of client relationships, which is critical in the high‑touch luxury segment. Pax Corporate Finance acted as financial advisor to the seller.