Coveris sells paper unit

Coveris has agreed to sell its labels and board business to US private equity firm Kingswood Capital Management, with the unit set to operate as a standalone entity under the name Paragon Print and Packaging.

The deal, signed in January 2026, is subject to customary completion undertakings and is expected to close within the first quarter of 2026. Upon completion, Paragon Print and Packaging will operate with a sales volume of 270 million EUR and a workforce of 1,400 employees.

'Since its establishment in 2020, the Paper Business Unit has been consistently and successfully developed,' said Christian Kolarik, CEO of Coveris. 'We are proud about the achieved performance and its current level of maturity led to the joint decision by Sun Capital and management to divest the business, allowing a clear strategic focus on core EMEA flexible packaging activities.'

Following the sale, Coveris will comprise 17 flexible manufacturing facilities across EMEA and the UK, with sales volume of 600 million EUR and a workforce of 2,500 employees.