RMB Corvest, Alito acquire majority stake in South African flexible packaging firm

SOUTH AFRICA — South African investment firm RMB Corvest and Alito Fund 2 have joined forces to acquire a majority stake in Packaging World, a leading manufacturer of flexible plastic packaging serving the FMCG food sector.

The deal positions the company for accelerated growth, particularly in sustainable and recyclable packaging solutions.

Founded in 1995 by Dean Gianni, Packaging World specialises in flexible packaging formats including reels, bags, and pouches.

The company has built a reputation for innovation, operational excellence, and long-term customer relationships across South Africa’s fast-moving consumer goods industry.

Under the new agreement, Gianni retains a meaningful stake and will continue to play an active operational role, alongside key members of Packaging World’s management team who are also investing in the business.

“This transaction brings in partners who share our longstanding vision and values,” said Gianni.

“Corvest and Alito bring strategic insight and capital to help us scale the business while preserving the culture, customer focus, and entrepreneurial spirit that has defined Packaging World since its inception.”

RMB Corvest cited Packaging World’s consistent market share gains, strong management team, and ongoing investment in manufacturing capabilities as key factors making the business an attractive acquisition.

“The company has deep operational and technical expertise and has established itself as a strong and trusted brand in the market,” said Andrew Sprenger, an executive at RMB Corvest.

“It offers end-to-end services from design and development through to large-scale production, with a strong focus on quality, innovation, sustainability, and customer partnership.”

Alito’s co-founder, Yvonne Maitin, highlighted that the investment would support the company’s next phase of growth, particularly in expanding its corporate client base and advancing environmentally sustainable packaging solutions.

The Packaging World transaction follows a series of high-profile investments in the African packaging sector.

Last year, Investec Private Equity backed a majority stake in Nairobi-based EnviroPack, a sustainable packaging solutions provider.

Meanwhilee in 2025, Brait South Africa acquired a controlling interest in Cape Town-based PackTech, a flexible and rigid packaging manufacturer serving FMCG clients.

These deals underscore increasing investor interest in scalable, sustainability-focused packaging businesses across the continent.

With the combined financial and strategic support of RMB Corvest and Alito, Packaging World is poised to strengthen its market leadership while accelerating innovation in recyclable packaging, a critical growth segment in South Africa’s fast-evolving FMCG industry.

Subscribe to our email newsletters that provide busy executives like you with the latest news insights and trends from Africa and the World. SUBSCRIBE HERE