Major packaging firm sold to private equity-backed European operator
Clifton Packaging, the Leicester-based food packaging firm, has been sold to Carton Pack, an Italian company specialising in packaging production for the food industry.
Carton Pack is a portfolio company of A&M Capital Europe (AMCE), a London-based private equity firm with over £540m of commitments under management.
Founded in 1981 and headquartered in Leicester, Clifton will continue to operate under the leadership of its management team, led by CEO Shane D’Souza.
The deal provides an exit for Clifton Packaging founders Shahid Sheikh OBE, Zed Sheikh and Tahir Sheikh.
The transaction is Carton Pack’s sixth acquisition since 2020 and the third since AMCE acquired a majority stake in the Group alongside the founding Leone family in April 2022.
“We are delighted to welcome Clifton Packaging into the Carton Pack Group,” said Gianni Leone CEO of Carton Pack Group. “The acquisition represents a vital step in our global strategy to deliver both plastic and paper sustainable packaging solutions on a larger scale to the food industry. This partnership not only expands our product range but also strengthens our capacity to serve clients across Europe and beyond, further reinforcing our commitment to quality, service and innovation.”
Shane D’Souza, chief executive officer of Clifton Packaging, added: “Together, we are poised to redefine the future of packaging by leveraging our combined strengths to deliver unparalleled value to our customers and make a positive impact on the environment. We will continue to operate under our established brand while benefiting from Carton Pack’s extensive resources and industry expertise, including access to warehousing and distribution in Europe. It’s an exciting time for the Group and we look forward to what the future holds for us.”
Sheikh said: “This journey has been nothing short of extraordinary. I am deeply grateful for the countless opportunities to collaborate with amazing individuals along the way—our customers, suppliers, industry partners, and, most importantly, the incredible staff who have contributed to our success, past and present.
“None of this would have been possible without the unwavering support, trust, and partnerships built over the last 40+ years. Together, we transformed challenges into milestones and ideas into achievements winning numerous awards along the way.
“For me, Clifton Packaging has always been more than just a business. It represents hard work, determination, and the power of a shared vision. As I hand over the reins, I take pride in leaving behind a legacy of success and innovation, with a bright future ahead for the company under its new stewardship.”
Freeths advised the Clifton Packaging shareholders on the deal, while KPMG provided corporate finance advice.
Carton Pack was advised by Chiomenti, Weil Gotshal & Manges, Charles Russell Speechlys and Pedersoli Gattai as legal advisers, PWC and EY as accounting and tax advisers, Food Strategy Associates as commercial adviser, Howden as insurance adviser and Ramboll as environmental adviser.
