Berlin Packaging

Woman holding pill and blank white plastic tube on pink background


Direct investment

Berlin Packaging provides global packaging services with a focus on the food and healthcare industries

Key Stats

  • $13 million total investment in 2019 alongside Oak Hill Capital Partners
  • Region: North America
  • Sector: Business services
Co-investment alongside Oak Hill Capital Partners


Berlin Packaging is a global provider of rigid packaging (plastic and glass) and packaging related services with a focus on the food and healthcare industries. It provides its clients with a full integrated service to design, finance and commission packaging and is the No. 1 distributor of rigid packaging in North America operating in a $7bn core addressable market. The company has a strong financial track record and a highly cash generative business model with demand that has proved resilient through the cycle.

Investment Rationale

  • Offers compelling value proposition to both its customers and manufacturers
  • For customers it provides access to more than 1,200 manufacturers at advantaged pricing from its scale
  • It allows manufacturers to focus on their core business, while receiving access to a fragmented base of more than 18,000 small customers
  • Its scale and long-standing relationships create high barriers to entry; low customer concentration and churn