KPS has signed a definitive agreement to acquire MM Packaging, a global manufacturer of consumer packaging, from MM Group. The financial terms were not disclosed in the sources.
Upon closing, MM Group will retain a 30% ownership interest, and MM Packaging will operate as a standalone company under the MM Packaging name.
Michael Psaros, Co-Founder and Co-Managing Partner of KPS, said: "MM Packaging is an industry-leading business, and we are excited to take it to the next level as an independent company. We appreciate the trust MM Group is placing in KPS and look forward to our partnership. KPS has had extraordinary success investing in the packaging sector across paper, board and metal substrates. We will leverage our deep industry experience, financial resources, commitment to manufacturing excellence and global presence to drive MM Packaging's growth."