KPS Capital Partners to Acquire MM Packaging in Carve-Out Deal
KPS Capital Partners has agreed to buy MM Packaging from MM Group, which will retain a 30% stake in the newly standalone company.
KPS Capital Partners, LP has signed a definitive agreement to acquire MM Packaging from Austrian paperboard manufacturer Mayr-Melnhof Karton AG, according to an announcement dated November 9, 2026. The transaction will transform MM Packaging into an independent, standalone company separate from its current parent organization.
MM Group will not exit the business entirely under the terms of the deal. The Austrian firm is set to retain a 30% ownership interest in MM Packaging following the close of the transaction, preserving a minority stake in the carton and packaging operation it is divesting.
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KPS Capital Partners is a New York-based private equity firm known for acquiring and restructuring industrial and manufacturing businesses. The acquisition of MM Packaging fits a pattern of carve-out transactions in which the firm takes operating divisions from larger conglomerates and positions them for independent growth.
Financial terms of the agreement, including the total transaction value, were not disclosed in the announcement. Completion of the deal remains subject to customary regulatory approvals and closing conditions, as is standard in cross-border acquisition transactions of this nature.
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