KPS Capital Partners to Acquire MM Packaging in Carve-Out Deal
KPS Capital Partners has agreed to buy MM Packaging from Mayr-Melnhof Karton AG, with MM Group retaining a 30% ownership stake in the standalone business.
Private equity firm KPS Capital Partners has signed a definitive agreement to acquire MM Packaging from Austrian packaging giant Mayr-Melnhof Karton AG, according to an announcement made November 9, 2026. The transaction will transform MM Packaging into an independent, standalone company separate from its longtime parent.
Under the terms of the deal, MM Group will not exit entirely — the Austrian firm is set to retain a 30% ownership interest in the carved-out business. That structure suggests both parties see continued strategic value in maintaining a partial alignment, even as MM Packaging gains operational independence under KPS stewardship.
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KPS Capital Partners, headquartered in New York, is a private equity firm known for acquiring and building industrial and manufacturing companies through operational transformation. The acquisition of MM Packaging fits a pattern of carve-out transactions in which KPS takes operationally complex businesses and positions them for standalone growth.
MM Packaging is a significant player in the European packaging sector, operating under MM Group, one of the continent's largest producers of cartonboard and folding cartons. Carving out the packaging unit into a separate entity could allow it to pursue its own capital allocation strategy and customer relationships more nimbly than as a division of a larger conglomerate.
Financial terms of the transaction were not disclosed in the announcement. The deal is subject to customary regulatory approvals and closing conditions. Continue reading at All Financial Services & Investing.
