Abu Dhabi-listed Multiply Group is acquiring a 60.8% stake in Italy-based ISEM Packaging Group, according to a statement (pdf). The remaining 39.2% will be held by Peninsula Capital and minority investors. The transaction — which is still pending regulatory approvals — marks the launch of Multiply’s fifth consumer-focused vertical, extending its reach beyond its existing beauty and apparel portfolio.

This is Multiply’s second European transaction this year and its sixth global partnership since listing on the ADX in 2021 — part of the group’s broader plan to build a diversified global portfolio of consumer-focused assets.

Peninsula will reinvest in the firm through its latest flagship fund to support ISEM’s international expansion alongside Multiply, the statement said.

The acquisition gives Multiply exposure to one of Europe’s top luxury packaging producers. Founded in 1949 and headquartered in Bologna, ISEM operates 11 manufacturing plants spanning more than 100k sqm and serves global names including LVMH, Kiko, Gucci, L’Oréal, Puig, and Coty Lancaster. The company produces rigid boxes, folding cartons, silk paper, and dust bags.

The vertical will complement Multiply’s existing beauty and apparel businesses, with the company’s 3x revenue and 4x EBITDA growth from 2021–2024, blue-chip client base, and automated industrial footprint in the packaging space offering several avenues for cooperation, Multiply CEO Samia Bouazza said.

Market reax: Multiply’s stock shed 0.33% yesterday to close at AED 3.0.

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