COVERIS
Sale of paper division / Packaging specialist to focus on flexible film
— By Plasteurope.com staff —
 Going forward, Coveris CEO Christian Kolarik plans to focus on flexible film packaging (Photo: Coveris/Andi Bruckner) |
Austrian packaging specialist Coveris (Vienna; www.coveris.com) said it has signed an agreement with US private equity firm Kingswood Capital Management for the sale of its Paper segment, which comprises its label and board activities. Financial details were not disclosed. Completion of the transaction is expected in the first quarter of the year, subject to customary regulatory approvals.
Following the acquisition, Kingswood intends to operate the unit, which is based in Spalding, UK, as a standalone company under the name Paragon Print and Packaging.
Coveris established its Paper division in 2020. CEO Christian Kolarik said management and shareholder Sun Capital decided to divest the unit in light of its “achieved performance and its current level of maturity”.
He added that the sale would enable Coveris to focus on its core flexible packaging activities across Europe, the Middle East, and Africa.
Related: Coveris and Nextek turn plastic film waste into food-grade material
Excluding the Paper segment, the company operated more than 17 production sites for flexible packaging in the EMEA region and employs over 2,500 people. Annual revenue is reported at around EUR 600 mn.
Paragon Print and Packaging employs approximately 1,400 staff and reported annual turnover of about EUR 270 mn.
In August last year, Coveris invested EUR 9.5 mn to modernise its facility in Halle, Germany, installing a new cast film extrusion line specially designed for the production of monofilms used in thermoforming and medical applications.
Following the acquisition, Kingswood intends to operate the unit, which is based in Spalding, UK, as a standalone company under the name Paragon Print and Packaging.
Coveris established its Paper division in 2020. CEO Christian Kolarik said management and shareholder Sun Capital decided to divest the unit in light of its “achieved performance and its current level of maturity”.
He added that the sale would enable Coveris to focus on its core flexible packaging activities across Europe, the Middle East, and Africa.
Related: Coveris and Nextek turn plastic film waste into food-grade material
Excluding the Paper segment, the company operated more than 17 production sites for flexible packaging in the EMEA region and employs over 2,500 people. Annual revenue is reported at around EUR 600 mn.
Paragon Print and Packaging employs approximately 1,400 staff and reported annual turnover of about EUR 270 mn.
In August last year, Coveris invested EUR 9.5 mn to modernise its facility in Halle, Germany, installing a new cast film extrusion line specially designed for the production of monofilms used in thermoforming and medical applications.
16.02.2026 Plasteurope.com [259647-0]
Published on 16.02.2026