The metal packaging industry in Benelux focuses on safe, efficient, and sustainable packaging solutions for various sectors, including food and beverage, cosmetics, and pharmaceuticals. Key players in this sector manufacture products like tin cans, aluminum bottles, and metal closures, emphasizing recyclability and eco-friendliness. Recent trends show a significant shift toward sustainable practices, with companies investing in innovative technologies to reduce their carbon footprint. A growing demand for convenience and ready-to-eat products drives the market further. With tightening regulations and increased consumer awareness of sustainability, the industry is poised for growth, exploring alternatives that incorporate recycled materials and advanced manufacturing processes.


The metal packaging investors in Benelux represent a mix of private equity firms, venture capitalists, and corporate investors. Most are based in Luxembourg and the Netherlands, varying in size from small boutique firms to large corporates with thousands of employees. The majority were founded between the late 20th century and early 21st century, reflecting years of experience in finance and investment. In 2024, these investors made a range of strategic investments, with notable activity from firms like CVC and Astorg, highlighting their commitment to the future of the metal packaging industry.


Top 12 Metal Packaging Investors in Benelux


1. Cvc

  • Website: cvc.com
  • Type: Private Equity
  • Headquarters: Luxembourg
  • Founded year: 2005
  • Headcount: 1001-5000
  • Number of deals in 2024: 16
  • LinkedIn: cvc-capital-partners

CVC Capital Partners is a prominent private equity firm based in Luxembourg, founded in 2005. The firm specializes in private equity, credit, secondaries, and infrastructure, managing approximately €193 billion in assets for over 1000 clients, including pension funds and institutional investors. CVC has made notable investments in the metal packaging industry, including the acquisition of AR Packaging, which reported sales of approximately €560 million in 2015, and the acquisition of Anchor Glass Container Corporation, further solidifying their presence in the packaging sector. Additionally, CVC's investment in SIAT Group and their involvement in funding rounds for companies like Elopak and Reath highlight their active engagement in the packaging market, including metal packaging solutions.


2. European Investment Bank (EIB)


The European Investment Bank (EIB) is a public entity based in Luxembourg, founded in 1958, that provides financial services including loans, equity investments, guarantees, and advisory services to support sustainable projects across various sectors. In 2024, EIB was involved in significant transactions that highlight its commitment to the packaging industry. Notably, EIB provided a EUR 435 million loan to Stora Enso to support its growth in renewable, fiber-based consumer packaging board, which is directly relevant to the packaging sector. Additionally, EIB participated in a Series B funding round for Packhelp, a sustainable packaging marketplace, indicating its interest in innovative packaging solutions. Furthermore, EIB's involvement with Umicore, a company engaged in materials technology, further emphasizes its connection to the metal sector, as Umicore deals with metals that are essential for packaging applications. Overall, EIB's diverse investment portfolio includes key players in the metal packaging industry, making it a significant investor in this space.


3. Triton Partners


Triton Partners is a private equity investment firm based in Luxembourg, founded in 1997. The firm specializes in private equity and credit investments in European mid-market businesses, focusing on sectors such as Business Services, Industrial Tech, and Healthcare. Triton provides operational expertise and capital to help companies unlock their full potential, partnering with management teams to address challenges and drive growth. Notably, Triton has made significant investments in the packaging sector, including the acquisition of Bormioli Pharma, a prominent manufacturer of pharma primary packaging, and a stake in All4Labels - Global Packaging Group, which is involved in various packaging solutions. These transactions highlight Triton's strategic interest in the packaging industry, including potential applications in metal packaging.


4. Astorg

  • Website: astorg.com
  • Type: Private Equity
  • Headquarters: Luxembourg
  • Founded year: 1998
  • Headcount: 51-200
  • Number of deals in 2024: 8
  • LinkedIn: astorg

Astorg is a private equity firm based in Luxembourg, founded in 1998, with a focus on investments in global B2B companies. With €22 billion in assets under management, Astorg specializes in providing capital, strategic guidance, and governance to management teams across various sectors, including healthcare, technology, and business services. Notably, Astorg has made significant investments in the metal sector, including the acquisition of Metalor Technologies International SA, a company involved in metal production, and they are currently in exclusive negotiations to acquire a majority stake in Lebronze Alloys, which produces alloys relevant to metal packaging. These transactions highlight Astorg's commitment to creating long-term value through strategic investments in the metal industry.


5. Gilde Buy Out Partners


Gilde Buy Out Partners is a private equity firm based in Utrecht, Netherlands, founded in 1982. The firm specializes in investment management and business transformation services, focusing on providing growth solutions to mid-market businesses across Europe. Notably, Gilde has been involved in several strategic acquisitions, including Veco Precision, a manufacturer of micro-precision metal components, which highlights their engagement in the metal industry. Additionally, they have acquired Riri SA, a company that may have relevance in the context of metal packaging due to its operations in the fashion and luxury sectors, which often utilize metal components in packaging. Their diverse portfolio and strategic focus on enhancing operations and market presence through investments position them as a potential player in the metal packaging space.


6. Bencis


Bencis is a private equity investment company based in Amsterdam, founded in 1999. They specialize in providing capital and strategic support to business owners and management teams across various sectors, including manufacturing and healthcare. Bencis has a history of acquiring companies to enhance their market presence and support product development. Notable transactions include the acquisition of Xeikon, which focuses on digital printing technology, and Gebhardt-Stahl, which may have operations related to metal products. Their investment in SPGPrints also indicates a focus on manufacturing technologies. While Bencis does not exclusively invest in metal packaging, their involvement in manufacturing-related sectors positions them as a potential investor in this space.


7. Finindus

  • Website: finindus.be
  • Type: Venture Capital
  • Headquarters: Zelzate, Flanders, Belgium
  • Founded year: 1926
  • Headcount: 1-10
  • Number of deals in 2024: 6
  • LinkedIn: finindus

Finindus is a venture capital firm based in Zelzate, Flanders, Belgium, founded in 1926. The firm specializes in providing early-stage and growth financing to innovative technology companies, particularly in the fields of materials, sustainable manufacturing, and Industry 4.0. They emphasize proactive and pragmatic assistance to maximize long-term value creation for their portfolio companies. Notably, Finindus has been involved in several transactions that could relate to the metal packaging industry. For instance, their investment in Fortius Metals, which raised $2 million in a seed round in October 2024, suggests a focus on materials that may include metal applications. Additionally, their participation in the funding of Borit NV, a company that may have relevance in the metal sector, further supports their alignment with the industry. Overall, Finindus's investment strategy and portfolio indicate a potential interest in the metal packaging sector.


8. Astanor

  • Website: astanor.com
  • Type: Venture Capital
  • Headquarters: Luxembourg
  • Founded year: 2017
  • Headcount: 11-50
  • Number of deals in 2024: 10
  • LinkedIn: astanor-venture

Astanor is an impact investment firm based in Luxembourg, founded in 2017, that specializes in the agrifood tech sector. They aim to support innovative companies that create sustainable food systems through strategic guidance and investment. Astanor has been involved in several notable transactions, including investments in Notpla, a UK-based sustainable packaging startup that raised significant funding to enhance its manufacturing capacity and develop new solutions. This investment reflects Astanor's commitment to sustainability in packaging, which is relevant to the metal packaging industry. Additionally, Astanor has invested in Mi Terro, a company that processes agricultural waste into alternatives for plastics, further showcasing their focus on sustainable materials. Their portfolio includes a range of companies that are innovating in the packaging space, making them a relevant player in the metal packaging sector.


9. ArcelorMittal Luxembourg


ArcelorMittal Luxembourg is a corporate investor and a leading steel manufacturer founded in 1911, headquartered in Luxembourg. The company produces a wide range of steel products for construction and infrastructure projects, emphasizing sustainability and low emissions. ArcelorMittal operates multiple production sites and is committed to responsible steel production. In recent years, the company has made several strategic acquisitions in the metal recycling sector, which are relevant to the metal packaging industry. Notable transactions include the acquisition of Legault Métal, a metal recycling company, aimed at securing scrap metal supply, and the acquisition of Zaklad Przerobu Zlomu (Zlomex), a Polish steel scrap metal recycling business, to enhance its use of recycled materials. These acquisitions demonstrate ArcelorMittal's commitment to integrating recycled materials into its operations, which is crucial for the metal packaging sector.


10. AkzoNobel

  • Website: akzonobel.com
  • Type: Corporate
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 1792
  • Headcount: 10001+
  • LinkedIn: akzonobel

AkzoNobel N.V. is a leading manufacturer of paints and coatings, providing innovative and sustainable solutions for both industrial and consumer markets. Founded in 1792 and headquartered in Amsterdam, Netherlands, the company operates in over 150 countries, delivering high-quality products that enhance and protect surfaces. AkzoNobel has made several strategic acquisitions to strengthen its portfolio, including the acquisition of Stahl Performance Powder Coatings, which enhances its capabilities in sustainable solutions. Notably, AkzoNobel acquired the alloy wheel liquid coatings business of Lankwitzer Lackfabrik GmbH, which is directly relevant to the metal packaging sector, as it focuses on coatings for metal products. This acquisition, along with others like VPowdertech and Imperial Chemical Industries, showcases AkzoNobel's commitment to expanding its capabilities in coatings, including those applicable to metal substrates.


11. Ardagh Group

  • Website: ardaghgroup.com
  • Type: Corporate
  • Headquarters: Luxembourg, Luxembourg, Luxembourg
  • Founded year: 1932
  • Headcount: 10001+
  • Number of deals in 2024: 1
  • LinkedIn: ardagh-group

Ardagh Group is a leading packaging manufacturer based in Luxembourg, specializing in glass and metal products. Founded in 1932, the company has grown to operate numerous production facilities across multiple countries, providing sustainable packaging solutions to brand owners in the food, beverage, and pharmaceutical industries. Ardagh Group has been involved in several significant acquisitions, including the acquisition of Anchor Glass Container Corporation in 2012, which expanded their glass business significantly. More recently, they announced the acquisition of Svensk Glasåtervinning, a major Swedish glass recycler, aimed at securing high-quality recycled glass for their operations. While these transactions primarily focus on glass, Ardagh's core business includes metal packaging, demonstrating their commitment to this sector as well.


12. Pdenh


Participatiefonds Duurzame Economie Noord-Holland (PDENH) is a not-for-profit organization based in Haarlem, North Holland, founded in 2014. It focuses on promoting sustainable economic development by investing in innovative projects and providing financing and advisory services to companies that contribute to a sustainable and circular economy. PDENH collaborates with various partners to stimulate sustainable business activities in the region. Notably, PDENH has invested in MX3D, a company developing robotic additive manufacturing solutions for metals, which includes the launch of a robotic metal AM machine. This investment highlights PDENH's engagement in the metal sector. Additionally, PDENH has participated in funding rounds for ChainCraft, a company that is scaling up its operations, which may also have implications for sustainable practices in metal usage. These transactions demonstrate PDENH's commitment to supporting innovative technologies that can impact the metal packaging industry.



Metal Packaging Insights: Key Investors in Benelux


InvestorHeadquarterSizeFoundedDeals 2024
CvcLuxembourg1001-5000200516
European Investment Bank (EIB)Luxembourg1001-5000195899
Triton PartnersLuxembourg201-50019976
AstorgLuxembourg51-20019988
Gilde Buy Out PartnersUtrecht, Utrecht, Netherlands11-5019820
BencisAmsterdam, North Holland, Netherlands11-5019990
FinindusZelzate, Flanders, Belgium1-1019266
AstanorLuxembourg11-50201710
ArcelorMittal LuxembourgLuxembourg1001-500019111
AkzoNobelAmsterdam, North Holland, Netherlands10001+17920
Ardagh GroupLuxembourg, Luxembourg, Luxembourg10001+19321
PdenhHaarlem, North Holland, Netherlands1-1020142


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