French family-owned company Verpack has gained a minority shareholder in the form of Crédit Mutuel Equity, which has taken a 25% stake in the luxury-packaging specialist.
The company, which manufactures setup boxes, folding boxes, tubes and canisters for segments including perfumes & cosmetics, wines & spirits and fashion & accessories, is to accelerate growth by investing in manufacturing and hiring new staff, as well as looking to acquisitions.
“The objective of this LBO is growth, whether external or organic,” Verpack president Stéphane Viers tells Luxe Packaging Insight. “We plan to step up the pace thanks to the synergy between our five production sites and the cross-functional departments that manage them. We will invest in this direction on an industrial and human level. In addition, we aren’t ruling out external growth to strengthen or expand our areas of expertise.”
On a manufacturing level, Verpack plans to invest in new machinery for printing, cutting and gluing. In terms of market segments, while perfumes & cosmetics accounts for the majority of Verpack’s business, it is looking to “rebalance its portfolio” by boosting its activity in the wines & spirits sector.
When asked about how the coronavirus pandemic has impacted business, Viers says that the group, which works with clients with a global reach, is hoping to benefit from a staggered market recovery. “While some markets were slowing down, others have picked up again, which has allowed us to continue our activities for the time being. We’re hoping that our luxury sectors will be less affected,” he said.
Founded in 1993, Verpack employs 450 staff and generated sales of more than €42m in 2019. It has four production sites in France and one in Tunisia. The company has made several acquisitions over the years, with Korus Packaging in 2013, Chesapeake’s CLP Packaging in 2006 and Cartonnages Guillaume in 2000.
Viers said that further opening up the group’s capital is not on the cards at present. “We want to keep the balance we have today, our positioning and the freedom to grow our group,” he concludes.
