RMB Corvest, a prominent mid-market private equity firm, and Alito Fund 2 have announced a strategic partnership to acquire a majority interest in Packaging World, a leading South African manufacturer specializing in flexible plastic packaging.
The deal represents a significant capital injection into a high-performing industrial player, aiming to accelerate its expansion within the Fast-Moving Consumer Goods (FMCG) sector and beyond.
Founded in 1995 by Dean Gianni, Packaging World has evolved from a boutique operation into a primary supplier of specialized solutions, including reels, bags, and pouches. A central component of this transaction is the continuity of leadership:
- Founder Reinvestment: Dean Gianni will retain a “meaningful stake” in the company and remain central to day-to-day operations.
- Management Alignment: The firm’s key management team is also investing alongside the private equity partners, ensuring that the interests of the operators and investors are fully synchronized.
Dean Gianni noted:
This transaction brings in partners who share our longstanding vision and values. Corvest and Alito bring strategic insight and capital to help us scale… while preserving the culture and entrepreneurial spirit that has defined us since inception.
The decision by RMB Corvest and Alito to back Packaging World was driven by the company’s resilient market position and technical sophistication. Melanie Pillay, an executive at RMB Corvest, highlighted several key attractive factors:
- Market Share Gains: Consistent growth and a proven ability to capture new business.
- Customer Longevity: Deeply entrenched, long-standing relationships with major players in the food sector.
- Technical Infrastructure: Sustained investment in state-of-the-art manufacturing capabilities.
The partnership is set to propel Packaging World into its next evolutionary stage, with a focus on two primary growth levers identified by Yvonne Maitin, co-founder of Alito:
- Corporate Expansion: Increasing the company’s footprint among large-scale corporate clients.
- ESG & Innovation: Advancing the development of recyclable and sustainable packaging solutions, meeting the global demand for eco-friendly materials in the FMCG space.
Andrew Sprenger, Executive at RMB Corvest, emphasized the cultural alignment of the deal, stating:
The company has deep operational and technical expertise… our partnership is an aligning of cultures, as we see all our investments as long-term partnerships.
Packaging World distinguishes itself by offering a comprehensive, end-to-end service model. This includes:
- Design & Development: Bespoke packaging concepts tailored to specific brand needs.
- Large-Scale Production: High-volume manufacturing with a focus on quality control and innovation.
- Customer-Centric Partnership: A collaborative approach that goes beyond simple vendor-client transactions.
