Cartondruck, which specializes in the manufacture of high quality folding cartons, headquartered in Obersulm (Germany), and New York based supplier of packaging, Multi Packaging Solutions, Inc. (MPS), just signed a definitive purchase agreement.

The purpose of the operation, according to Cartondruck, is to add new services and products to the company’s portfolio and to become one of the world’s leading companies for premium packaging. Moreover, the partnership should contribute to speed up planned investments. Thus, the scope of expansion for the manufacturing faciliy in Poland will be at a far greater level than originally planned.

MPS is a leader in print, packaging, and labels for the cosmetics and healthcare markets.

Through this alliance, both companies will now offer a full range of products, services, and print technologies, and manufacturing capabilities in both the US and Europe.

The agreement provides that Steffen and Marc Schnizer, members of Cartondruck Board of Directors, will become shareholders of MPS and will join the MPS Senior Management Team. In addition, they will continue to have responsibility for the European operations of the newly formed group. Financial terms of the transaction were not disclosed.