Equity and investment advisory firm CVC Capital Partners (CVC) has signed a binding agreement to buy Sweden's AR Packaging Group from its current owners, Ahlstrom Capital and Accent Equity.
Financial details of the deal, which is subject to regulatory clearances, have not been disclosed.
Established in 2011 through the merger of A&R Carton and Flextrus, AR Packaging recorded a 27% increase in net sales last year.
The company has a workforce of 2,200 employees located across 17 factories in nine countries.
AR Packaging is divided into three divisions, including branded products, barrier packaging and food packaging.
Its products are mainly used for folding carton and flexible packaging, as well as machinery systems, design and development.
CVC Capital Partners Nordic chairman Peter Törnquist said: "AR Packaging is a key player in the European packaging space with an excellent management team, a strong product portfolio and many strategic client relationships.
"We believe there are significant opportunities to grow the business organically and through acquisitions while continuing to put our customers first.
"We look forward to deploy CVC's global resources and to work with AR Packaging's management team and employees in achieving their vision for the future."
Established in 1981, CVC currently has a network of 24 offices and more than 300 employees throughout Europe, Asia and the US.