An affiliate of Texas, US-based private investment firm Peak Rock Capital has acquired a majority holding in AMB S.p.A., a family-owned provider of food packaging services and products, the company has announced. Financial details were not released. Under the terms of the deal, the founders of the business, the Marin family, who referred to the transaction as a strategic partnership, are assumed to retain a minority stake.
The current AMB Board, composed of Bruno Marin (CEO), Giles Peacock (COO), Paolo Cescutti (CPO) and Rolf Liebfried (CFO) will remain in place to run the business.
Calling the deal ‘another huge step in our growth plans’, Bruno Marin noted that Peak Rock Capital had long been ‘an active investor in our market historically’.
“He truly understands not only us as a business but the future growth potential of the industry,” he said.
“AMB saw significant growth through 2020, against a tough operating backdrop, which demonstrates the robustness of the business and how we have strategically structured it. Peak Rock Capital’s investment will enable us to build on this to further accelerate investment priorities, expand our global footprint, and fuel future growth initiatives and innovations,” added COO Giles Peacock.
AMB, headquartered in San Daniele del Friuli, Italy, specialises in food grade recycled plastic and has long been active in the development of sustainable and recyclable plastic packaging.
The investment partnership will allow AMB to further implement its vision to develop and manufacture sustainable products that are aligned with the circular economy. Sustainability and food safety will continue to be core to its activities.
For Peak Rock Capital, AMB represents an exciting opportunity to invest in a leading provider of recyclable products within the stable and growing European market for rigid food packaging materials, said Alex Dabbous, managing director of Peak Rock Capital Europe,
“We are excited to partner with the Marin family and the Company’s talented management team to support AMB’s growth through geographic and customer expansion, product innovation, and add-on acquisitions,” he said.
Founded in 1969, AMB has 430 employees now operating in 5 locations across Europe. In addition to food packaging, the company also offers design, prototyping and tooling services to a customer base that includes, among others, food manufacturers and packaging thermoformers.