Core Viewpoint - Coveris has agreed to divest its labels and board business to Kingswood Capital Management, with the unit to be re-established as Paragon Print and Packaging, expected to complete in Q1 2026 [1][2]. Group 1: Transaction Details - The sale involves the paper business unit, which will operate independently as Paragon Print and Packaging, generating annual sales of approximately €270 million ($321.2 million) and employing around 1,400 staff [2]. - Coveris will retain 17 flexible packaging manufacturing sites across EMEA and the UK, with projected sales of about €600 million and a workforce of roughly 2,500 employees post-divestment [2]. Group 2: Management and Strategic Focus - Coveris CEO Christian Kolarik stated that the divestment allows for a strategic focus on core EMEA flexible packaging activities, expressing confidence in the growth potential of the Paper Business under new ownership [3]. - Jo Ormrod, the current COO of Coveris' paper business unit, will become the CEO of Paragon, with the existing management team continuing in their roles [4]. Group 3: Product Focus and Legacy - Paragon Print and Packaging will focus on paper-based, recyclable packaging for sectors such as food, household, and personal care, offering products like self-adhesive labels and environmentally friendly materials [4]. - The brand Paragon has a legacy of over three decades, known for its trusted reputation among customers [4].