German holding company Mutares has divested its subsidiary Klann Packaging to investment holding company Accursia Capital.
The deal is part of the company’s portfolio realignment initiative undertaken with the view of disposing of smaller-sized subsidiaries.
It is expected the acquisition will support Klann Packaging’s geographic and product expansion.
The two sides have not disclosed any financial details of the transaction.
Mutares CIO Johannes Laumann said: “With Accursia we have found the ideal partner for KLANN Packaging, which has grown very close to our heart during the years of belonging to our portfolio.
“We are convinced that KLANN will develop excellently under the future owner through new organic and inorganic growth plans.
“For Mutares, this transaction is a great success in difficult market conditions and a further step in our portfolio consolidation.”
Headquartered in Landshut, Germany, KLANN Packaging produces printed tinplate-made packaging.
Headquartered in Munich, Mutares acquires medium-sized companies that have operational improvement potential.
It acquired the company from HUBER Packaging in 2011 and positioned the company as a high-quality tinplate packaging solutions provider.
Accursia Capital CEO Martin Scheiblegger said: “We see KLANN Packaging as a well-structured company, which is optimally positioned for further growth.
“Through a targeted long-term buy and build strategy, Accursia’s new packaging division will be significantly developed over the next few years.
“KLANN Packaging is already the fourth investment of Accursia within the last six months. This transaction is another important step in our sustainable growth strategy.”