Coveris: Sale of the Paper Business Unit to Kingswood Capital

Coveris, a manufacturer of flexible plastic and paper packaging, has signed an agreement to sell its labels and cartons business (“Business Unit Paper”) to the U.S.-based private equity firm Kingswood Capital Management. The agreement was concluded in January 2026; completion of the transaction remains subject to customary closing conditions and is expected in the first quarter of 2026.

Upon completion of the transaction, the former Business Unit Paper will operate as an independent company under its previous name, Paragon Print and Packaging. The division was established within Coveris in 2020 and has developed steadily since then.

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According to Coveris, the divestment is part of its strategic focus on its core business of flexible packaging. In the future, the company intends to concentrate on its operations in the Europe, Middle East and Africa (EMEA) region.

Following the sale, Coveris will operate 17 flexible packaging production sites in the EMEA region and the United Kingdom. The company will then employ around 2,500 people and generate revenues of approximately €600 million.

After the spin-off, Paragon Print and Packaging will have around 1,400 employees and generate annual revenues of approximately €270 million.

More information: www.coveris.com, www.kingswood-capital.com

Coveris Management GmbH, Vienna, Austria