Coveris is set to sell its labels and board business (Business Unit Paper) to the US Private Equity company, Kingswood Capital Management.
Coveris
Coveris sells its Paper Business Unit to Kingswood Capital Management
The deal was signed in January of this year, but is subject to customary completion undertakings, and is expected to close during the first quarter of 2026. The former Business Unit Paper will operate as a stand-alone entity under its former name, Paragon Print and Packaging.
“Since its establishment in 2020, the Paper Business Unit has been consistently and successfully developed,” said Christian Kolarik, Chief Executive Officer of Coveris. “We are proud of the achieved performance and its current level of maturity, which led to the joint decision by Sun Capital and management to divest the business, allowing a clear strategic focus on core EMEA flexible packaging activities. We are confident that the Paper Business is well-positioned for continued growth under new ownership.”
Following the deal’s closure, Coveris’ operations will consist of 17 flexible manufacturing facilities in EMEA and the UK. The company will boast a sales volume of EUR 600m and a workforce of 2500 employees. Meanwhile, Paragon Print and Packaging will operate with a sales volume of EUR 270m and a workforce of 1400 colleagues.
