What's Happening?
RMB Corvest and Alito Fund 2 have acquired a majority stake in Packaging World, a leading South African manufacturer of flexible plastic packaging. This acquisition marks a significant milestone in Packaging World's
31-year history, as it partners with Alito, a 51% black women-owned fund, and RMB Corvest. The partnership aims to support Packaging World's growth, focusing on inclusive growth and long-term value creation. The company, founded by Dean Gianni, is known for its specialized flexible packaging solutions and serves the FMCG food sector.
Why It's Important?
This acquisition is significant as it highlights the growing trend of strategic partnerships aimed at fostering inclusive growth and sustainability in the packaging industry. By partnering with Alito and RMB Corvest, Packaging World is positioned to expand its market presence and enhance its manufacturing capabilities. The focus on recyclable and sustainable packaging solutions aligns with global trends towards environmental responsibility and could drive innovation in the industry. This move also underscores the importance of diversity and inclusion in business growth strategies.
What's Next?
With the new partnership, Packaging World is expected to increase its penetration of larger corporate customers and continue innovating in sustainable packaging solutions. The company will likely focus on expanding its operations across sub-Saharan Africa, leveraging favorable industry dynamics such as rising demand for flexible packaging and localization of supply chains. The partnership will also involve continued investment in manufacturing capabilities and strengthening customer relationships, ensuring the company's competitive edge in the market.
