CLIFTON PACKAGING LIMITED acquired by CARTON PACK

Weinberg Capital Partners has arranged to acquire a majority shareholding in Cosmogen, a leading developer of innovative application solutions for the cosmetics industry. The investment, which is the third from its WCP#4 LBO fund, was made in partnership with its co-investment vehicle, WCP Co-Invest, and with co-investor BNP Paribas Développement. This transaction marks the exit of the former majority shareholder, MBO+, which had supported Cosmogen's growth over an eight-year period. The acquisition was structured as a leveraged buyout (LBO) and was deemed a strategic fit for Weinberg Capital Partners' investment criteria. The firm was attracted to Cosmogen's B2B services model, its position in a sector where Weinberg has deep expertise, its mature environmental, social, and governance (ESG) framework, and its strong focus on client satisfaction. Under the new ownership, Cosmogen is expected to accelerate its development and pursue a consolidation strategy within its sector, both domestically in France and on an international scale. Weinberg Capital Partners plans to leverage its extensive experience in executing add-on acquisitions to support Cosmogen's management team, led by CEO Priscille Allais, in achieving this next phase of expansion and solidifying its market leadership.

Veritiv Operating Company has successfully completed the acquisition of Orora Packaging Solutions (OPS) from Orora Limited (ASX: ORA). This landmark transaction represents a major step in Veritiv’s consolidation strategy within the North American packaging sector. The deal allows Veritiv to integrate OPS' extensive distribution network and its nearly 3,000 employees into a unified specialty packaging platform. The strategic rationale for the acquisition is to enhance the combined entity's geographic footprint, particularly in the U.S. and Mexico, and to broaden the range of value-added solutions offered to customers with complex supply chain requirements. For the seller, Orora Limited, the divestiture allows for a strategic refocusing on its core beverage packaging business while significantly strengthening its balance sheet. The transaction was supported by a large syndicate of international lenders, underscoring the market's confidence in the combined group’s scale and synergy potential. This acquisition further solidifies Veritiv’s position as the leading specialty packaging distributor in North America.

Acerinox has finalized the acquisition of Haynes International through its wholly-owned subsidiary, North American Stainless, a maneuver designed to fundamentally strengthen the group’s competitive positioning in the high-performance alloys market. The strategic rationale for this transaction centers on a "portfolio-upscaling" play, merging the target's industry-leading technical operational depth in specialized alloys with the group’s vast global manufacturing and distribution infrastructure. This fusion effectively creates a specialized powerhouse within the High-Performance Alloys (HPA) Division, providing the organization with the scientific talent and patented IP required to address the increasing complexity of the global aerospace supply chain.

Amcor and Berry Global have entered into a definitive agreement to combine in an all-stock transaction, creating a global consumer and healthcare packaging powerhouse. Under the terms of the agreement, Berry shareholders will receive $73.59 per share in Amcor stock, representing a 9.75% premium to the last close. Post-merger, Amcor shareholders will own approximately 63% of the combined entity, while Berry shareholders will own 37%. The strategic rationale for the combination is to create a leader with unprecedented scale and geographic reach across 140+ countries. The merger unites Amcor’s global flexibles strength with Berry’s regional container and closure leadership, particularly in North America and Europe. The combined group expects to generate $650 million in annual synergies by the third year, driven by cost optimizations and incremental growth in high-value categories. This transaction accelerates both companies' shift toward a sustainable, circular economy-focused product mix, positioning the new Amcor as the largest buyer of resin and the most capable innovator in the global packaging landscape.

Texen S.A.S., under the umbrella of its parent company PSB Industries, has finalized the acquisition of 100% of Quadpack Industries. The transaction was initiated through the acquisition of a 77.66% controlling block from Eudald Holdings SL and the company's founders, followed by a 9.85% stake from a minority shareholder. The remaining shares were acquired via an "asymmetric" capital reduction process, allowing PSB Industries to gain full ownership and delist Quadpack from the Euronext Growth market. The strategic rationale for this merger is to create a global leader in beauty packaging, moving the combined entity into the world's Top 5 within the sector. While Quadpack and Texen will initially remain standalone entities to preserve their respective cultures, the group will leverage significant synergies in geographical coverage (Asia, Europe, Americas) and market segments (Luxury vs. Masstige). The founders of Quadpack have reinvested into PSB Industries, remaining involved in the future growth of the unified group.

Astorg has acquired a majority stake in Lebronze Alloys from the Dumont family. The strategic roadmap focuses on three pillars: 1) Penetrating fast-growing geographies such as the USA and India; 2) Entering new high-tech applications (EV, AI-driven electronics); and 3) Moving downstream in the value chain through the roll-out of regional service centers.

Cimsa acquired a 94.7% majority stake in Mannok while the local management team retained a 5.3% minority interest to ensure continuity. The transaction provides an exit for the consortium of US hedge funds (led by Brigade Capital Management) that had owned the business since its receivership in 2014. Cimsa intends to use Mannok as its "growth hub" for the UK and Irish markets, leveraging Sabancı's financial power to accelerate Mannok's decarbonization and sustainability initiatives.

Axalta Coating Systems completed the acquisition of CoverFlexx Group, a subsidiary of Transtar Holding, on July 2, 2024. The transaction represents a bolt-on acquisition aimed at reinforcing Axalta’s footprint in the North American automotive refinish coatings segment. The strategic rationale is anchored in strong product and customer complementarity. CoverFlexx brings a portfolio of value-oriented coatings and aftermarket solutions, allowing Axalta to broaden its offering across the price spectrum and better address economy-focused customer segments. This positioning is particularly relevant in the refinish market, where cost sensitivity and product availability are key purchasing drivers. The integration of CoverFlexx’s brands and capabilities enhances Axalta’s go-to-market strategy and supports incremental penetration in the aftermarket channel. From a value creation standpoint, the transaction is expected to be value-accretive through cross-selling opportunities, expanded distribution reach, and operational synergies across manufacturing and procurement. The addition of CoverFlexx also strengthens Axalta’s scale in a fragmented sector characterized by ongoing consolidation and sustained demand driven by vehicle repair activity.

Cerea Partners acquired a majority stake (approximately two-thirds) in Isnard Groupe, valuing the company between EUR30 million and EUR40 million. The transaction is a classic "Primary LBO" (first time opening capital to PE). The deal involves recruiting a new external CEO to lead operations. Financing was secured through a senior debt package in two tranches.

Labelys organized a new buy-out to welcome Florac, Cerea, and Unigrains as new shareholders. The management team maintains a significant minority stake (~40% slightly diluted). The primary objective of this EUR200M equity injection is to finance a new wave of acquisitions across Europe. The financing package includes a senior debt and a Tranche C (private debt), with a leverage kept below 4x EBITDA, providing the group with a robust M&A "war chest" to reach EUR350M+ in revenue by 2028.