Bluegem Capital Partners, a private equity firm focused on consumer staples, and AREV have jointly acquired Pinard Group, a leading manufacturer of high-end packaging for the beauty, personal care (BPC), and pharmaceutical industries. This acquisition signals Bluegem Capital Partners’ commitment to investing in companies with strong growth potential in these resilient sectors.
Bluegem and AREV will share majority ownership, partnering with the existing Pinard Management Team and founding family members who have reinvested in the company. This collaborative ownership structure underscores the shared vision for Pinard Group’s future growth.
Pinard Group, through its subsidiaries Pinard Beauty Pack (PBP) and Lablabo, serves prestigious BPC brands and pharmaceutical clients. PBP specializes in luxury packaging, while Lablabo pioneered the bag-in-bottle airless technology. This diverse portfolio positions Pinard Group as a key player in packaging innovation.
Since its acquisition by IK Partners in 2017, Pinard Group has implemented strategic initiatives, including strengthening management, investing in capacity expansion (particularly eco-friendly solutions), and acquiring Lablabo. These efforts have resulted in significant organic growth and expansion into the healthcare sector. This track record of success attracted the attention of Bluegem Capital Partners.
Bluegem and AREV aim to leverage Pinard Group’s technical expertise and intellectual property to establish a leading provider of fully circular plastic packaging solutions. PBP’s Platinum EcoVadis ranking, placing it in the top 1% globally for sustainable practices, aligns with the growing demand for environmentally responsible packaging. With the increasing focus on circularity in the plastics industry, Pinard Group is well-positioned to offer sustainable solutions to its clientele. This commitment to sustainability resonates with Bluegem Capital Partners’ investment philosophy.
Bluegem Capital Partners expressed enthusiasm for Pinard Group’s strong market position, innovative capabilities, and commitment to sustainability. They highlighted the company’s potential for accelerated growth, both organically and through acquisitions, in the fragmented packaging market. This acquisition aligns with Bluegem’s strategy of investing in companies with solid fundamentals and strong growth prospects within the consumer staples sector.
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AREV emphasized Pinard Group’s customer-centric approach, operational excellence, and ESG leadership. They plan to further enhance the company’s innovation capabilities, expand its market reach, and pursue a buy-and-build strategy to broaden its product portfolio. This strategic partnership will enable Pinard Group to capitalize on emerging opportunities in adjacent market segments.
IK Partners expressed satisfaction with Pinard Group’s progress under their ownership, highlighting the company’s resilience, growth, and successful diversification. They wished the company and its new owners continued success. This successful exit further validates Pinard Group’s strong market position and future potential. The acquisition by Bluegem Capital Partners and AREV marks a significant new chapter for Pinard Group, poised for continued innovation and growth in the high-end packaging industry.
