PM Studio buys TNT Group to build $145M packaging platform
What's the deal? PM Studio GroupDealroom has a profile for this one. Try Dealroom →, a French specialist in gifting, secondary packaging, and bespoke accessories, has acquired TNT GroupDealroom has a profile for this one. Try Dealroom →, a premium primary and secondary packaging maker for the beauty and wines and spirits industries. The combined business generates about €130 million ($145 million) in revenue and employs nearly 150 people worldwide. Terms were not disclosed.
What each side brings: Co-founded in 2018 by Patricia Stranik and Sven Döbert, PM Studio Group serves beauty, luxury, fashion, jewelry, and watch brands, with revenue above €70 million ($78 million) in 2025. Founded in 2013 by Toby Cattermole and Thomas Diezinger, TNT Group operates from Hong Kong, Paris, and New York, bringing engineering and eco-design expertise, including pioneering use of recycled zamak.
What's the endgame? The two groups aim to cover more of the value chain, from design to logistics, and broaden their customer base and reach across Europe, Asia, the Middle East, and North America. PM Studio Group, backed by Andera ExpansionDealroom has a profile for this one. Try Dealroom → since 2024, wants to build a global packaging platform through further acquisitions.
What changes? TNT Group's founders are reinvesting a significant portion of the sale proceeds in the combined business, alongside key management. Damon Kennish, who joined as chief business officer in 2025, has been appointed chief executive officer of TNT Group.
Stranik, chief executive officer of PM Studio Group, called the deal "love at first sight," adding: "We share the same philosophy, the same DNA, the same absolute passion for the product."
The signal: The deal reflects consolidation in premium packaging, where creative and technical players are combining to serve both major houses and fast-growing niche brands. PM Studio Group, which reports average annual growth above 30%, is betting that scale and a wider offering will make it a leading global partner for beauty and luxury clients.
Read more: premiumbeautynews.com
Image credit: tnt group
