Abu Dhabi’s Multiply Group acquires majority stake in Italy’s ISEM Packaging

Image: Multiply Group

Multiply Group, the Abu Dhabi-based investment holding company, has signed an agreement to acquire a majority stake in Italy’s ISEM Packaging Group, a leading European packaging manufacturer, marking its expansion into a fifth consumer-focused vertical.

Under the terms of the deal, Multiply Group will hold a 60.8 per cent stake in ISEM, while European private equity firm Peninsula Capital and minority investors will retain the remaining 39.2 per cent.

The transaction, which is subject to regulatory approvals, represents Multiply’s sixth global partnership since its listing on the Abu Dhabi Securities Exchange in December 2021.

Multiply Group enters into the packaging sector

The acquisition signals Multiply Group’s entry into the packaging sector, complementing its existing consumer-focused businesses in beauty and apparel. The company said the move aligns with its strategy of building scalable platforms in high-growth industries and reflects its ambition to broaden its global footprint.

Founded in 1949 and headquartered in Bologna, Italy, ISEM Group is a highly automated packaging specialist renowned for its craftsmanship and “Made in Italy” design standards.

Its key clients include LVMH, Kiko, Gucci, L’Oréal, Puig, and Coty Lancaster.

The group manufactures rigid boxes, folding cases, silk paper, and dust bags, operating 11 production facilities across more than 100,000 square metres.

“This transaction is our second in Europe this year as we continue with our global growth ambitions,” said Samia Bouazza, group CEO and MD of Multiply Group. “With 3x revenue and 4x EBITDA growth from 2021 to 2024, a long-standing blue-chip client base, a highly automated industrial footprint, and strong fundamentals, we believe ISEM Group is a great fit for our portfolio. With this acquisition, alongside Peninsula Capital and the management of ISEM, we see opportunities to maximise competitive advantages, elevate value creation, and create synergies within the industry and potentially with our beauty and apparel sectors.”

Multiply and Peninsula said their partnership combines Multiply’s long-term investment approach and experience in platform building with Peninsula’s sector knowledge and reach across Southern Europe.

Multiply, Peninsula Capital investment to help ISEM grow industrial platform

“We are proud of the journey accomplished together with ISEM Packaging Group, which has become a European leader in packaging and a partner of choice for global beauty and fashion leading brands,” said Borja Prado, founding partner of Peninsula Capital. “Since our entry, revenues have tripled through strong organic growth and targeted M&A. Confident in its future, we are pleased to reinvest in the group through our latest flagship fund and join forces with Multiply Group – a strategic global investor with a strong track record in scaling businesses.”

Francesco Pintucci, CEO of ISEM Group, said Multiply’s investment will enable ISEM to grow its industrial platform and global reach. “This important step represents full continuity with our long-term vision and growth strategy – to build the world’s leading industrial group capable of supporting our customers at 360°, combining the highest standards of quality, innovation, and service with a strong ESG commitment,” he said.

Multiply Group continues to expand its portfolio through targeted global partnerships while aligning its investments with the UAE’s broader economic diversification goals.