KPS Capital Partners to Acquire MM Packaging in Carve-Out Deal
KPS Capital Partners has signed a definitive agreement to buy MM Packaging from MM Group, which will retain a 30% stake in the standalone company.
Private equity firm KPS Capital Partners has reached a definitive agreement to acquire MM Packaging from Austrian paperboard manufacturer Mayr-Melnhof Karton AG, known as MM Group, the companies announced Nov. 9, 2026. The transaction will transform MM Packaging into an independent, standalone company separate from its current parent.
Under the terms of the deal, MM Group will not exit the business entirely. The Austrian firm will retain a 30% ownership interest in MM Packaging following the close of the transaction, preserving a minority stake in the packaging operation it is divesting.
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KPS Capital Partners, headquartered in New York, is a private equity firm that specializes in acquiring and transforming manufacturing and industrial businesses. The firm's involvement signals a strategic repositioning for MM Packaging, which is expected to operate with greater operational independence under the new ownership structure.
The carve-out structure — in which a parent company sells a majority interest in a subsidiary while holding a residual stake — has become a common mechanism for large industrial groups seeking to streamline their portfolios without fully surrendering exposure to divested assets. MM Group's decision to retain 30% suggests continued confidence in MM Packaging's long-term value.
Financial terms of the transaction were not disclosed in the announcement. Continue reading at All Financial Services & Investing.
