RMB Corvest and Alito Fund 2 (“Alito”) have partnered to acquire a majority stake in Packaging World, a leading South African manufacturer of flexible plastic packaging, marking a significant milestone in the company’s 31-year growth journey. Alito is a 51% black women-owned fund, founded by Cathy Goddard and Yvonne Maitin, in partnership with RMB Corvest, with a focus on inclusive growth in South Africa’s real economy, and a shared commitment to long-term value creation.

Founded in 1995 by Dean Gianni, Packaging World is a well-established supplier of specialised flexible packaging solutions, including reels, bags and pouches, primarily to the FMCG food sector. Headquartered in Pinetown, KwaZulu-Natal, the business services hundreds of customers and is recognised for its quality products, reliability, innovation and agility.

Under the transaction, RMB Corvest and Alito will partner with founder, Dean Gianni, who will retain a meaningful stake and continue to be operationally involved in the business. Packaging World’s key management team will also invest alongside RMB Corvest, Alito and Dean Gianni, ensuring strong alignment and continuity.

“This transaction brings in partners who share our longstanding vision and values,” said Dean Gianni, founder of Packaging World. “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.”

“Packaging World has delivered strong performance, and has benefited from consistent market share gains, long-standing customer relationships, and continued investment in their manufacturing capabilities, which together with the strong management team, made the business very attractive to us as investors” notes Melanie Pillay, executive at RMB Corvest.

“The investment supports Packaging World’s next phase of growth, including increased penetration of larger corporate customers, and continued innovation in recyclable and sustainable packaging solutions” notes Yvonne Maitin, co-founder of Alito. The company is well positioned to benefit from favourable industry dynamics, including rising demand for flexible packaging, localisation of supply chains, increasing sustainability requirements across FMCG markets, and expansion across sub-Saharan Africa.

Jill Celliers, Managing Director of Packaging World, commented, “This partnership strengthens our ability to serve customers at the highest level while accelerating growth opportunities. With our capacity, strong BEE credentials post-transaction, and a committed shareholder base, we are well positioned to expand our offering with both existing and new customers.”

Andrew Sprenger, executive at RMB Corvest concludes, “The company has deep operational and technical expertise and has established itself as a strong and trusted brand in the market. 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. This partnership element is an aligning of cultures, as we see all our investments as long term partnerships.”