The deal comes five years after CVC bought AR Packaging from fellow buyout houses Accent Equity and Ahlstrom Capital, in a deal understood to value the business at about €450m.
Accent and Ahlstrom created Sweden-headquartered AR in 2011 through the merger of A&R Carton and Flextrus
AR provides packaging for industries including beauty, frozen food, tobacco, confectionary and medical devices.
CVC managing director Lave Beck-Friis said, “We are very proud of the progress AR Packaging has made during our partnership.
“It has been a pleasure working with Harald and his excellent team to develop and roll out numerous new products, as well as investing to support an active M&A agenda to accelerate the growth of the business into a truly global player.”
The transaction is expected to close in four to six months.
Other recent deals from CVC include buying China’s BlueFocus Intelligent Communication Group’s international advertising and marketing agencies alongside pension fund Caisse de dépôt et placement du Québec.
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