Abris Capital to exit Dot2Dot in trade sale
ESG transformation specialist agrees sale of premium packaging producer to Belgium’s Van Genechten
18 July 2024, Warsaw – Abris Capital Partners (“Abris”), the ESG transformation specialist private equity investor and B Corp, has signed an agreement to sell 100% of the shares in Dot2Dot, the largest independent premium packaging producer in Central Europe, to Van Genechten Packaging, a leading European folding carton solutions provider, headquartered in Belgium and with 12 production plants across Europe. The transaction is subject to Polish antimonopoly clearance.
Headquartered in Gdańsk, Poland, Dot2Dot manufactures and sells complex and innovative packaging products to customers throughout Europe, covering all sectors of the economy, from beauty and personal care to food and non-food packaging. Customers include some of the world’s largest corporations, including many renowned global brands. The company has 350 employees across two facilities in Poland. Dot2Dot Is also an ESG champion, offering to its clients sustainable products and operating a modern and inclusive business model.
Edgar Kolesnik, Partner at Abris Capital Partners, commented:
Alongside the enormously dedicated and determined management and the broader senior team, we successfully completed the transformation of Dot2Dot from three founder-led businesses into an integrated company with well-diversified sales, two modern production plants, a strong culture and unified technology standards. We are pleased that the company is in fantastic shape to move into the next phase of its growth story with Van Genechten.”
Abris’ partnership with Dot2Dot began in June 2015, with the acquisition of Graf-Poz, a Poznan-based manufacturer of paperboard premium packaging. The company provided a strong platform for consolidating a number of complementary businesses into a single, major supplier of premium packaging products to blue-chip clients. In April 2016, Abris completed two further acquisitions, of Druk Markuszewscy, based in Gdansk, and Drukpol, based near Warsaw. This widened the group’s product offering and strengthened its competitive position, at the same time creating the largest independent premium packaging producer in the Central Europe region.
During the course of its investment, Abris has transformed Dot2Dot from a group of family-owned businesses with different cultures and technology into a modern, multi-site production company with plants in Gdansk and Warsaw, and a particular strength in key sectors including beauty, personal care and confectionary. Abris has focused on improving corporate governance, including bringing in a new CEO, CSO, CPSO and CFO, as well as more than 30 other senior positions.
The company has also performed exceptionally well on ESG during the course of Abris’ investment. In 2023, Dot2Dot generated 94% of its revenue from reusable, recyclable or compostable products, avoiding more than 83 million units of plastic packaging, and reducing carbon emission per million euros of revenue by more than 50% versus 2022. In addition, more than 50% of senior managers at Dot2Dot are women. The company won the Grand Prix award at the 2024 Abris Capital Partners ESG Awards.
Pawel Gierynski, Managing Partner of Abris, said:
“Our investment in Dot2Dot showcases the impact of private equity at its very best. Despite encountering challenges during the early phase of the investment period, our long-term focus allowed us to build a strong partnership with Dot2Dot. We have created a modern, innovative and sustainable leader in the sector – the largest independent premium packaging producer in Central Europe – and delivered a positive result for our investors.”
Prof. Dr. Frank Ohle, CEO of Van Genechten Packaging, said:
“Apart from sharing the same DNA, we are leveraging our capabilities in several strategic market segments. With this acquisition, we are not only strengthening our European market position in premium packaging but also significantly extending our multinational customer base. We look forward to a successful collaboration and the exciting opportunities ahead.”
Krzysztof Roslaniec, CEO of Dot2Dot, added:
“I would like to thank the entire team at Dot2Dot for their dedication over recent years, as well as to the team at Abris, without whom our transformation into the leading player in our sector would not have been possible. We are looking forward to the next stage in our journey with Van Genechten, and to continuing to provide the best quality products and services for our customers across the globe.”