KPS agrees €2.4bn acquisition of MM Group's packaging business

US private equity firm KPS Capital Partners has agreed to acquire a 70% stake in the packaging business of Austria's MM Group, valuing the operation at €2.4bn. The business operates more than 50 production facilities across 19 countries and employs approximately 8,500 people. MM Group will retain a 30% interest following completion. HPC could identify packaging machinery suppliers, raw material distributors, automation specialists, logistics companies and potential acquisition targets that may support the business's next stage of growth.

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