Hivest Capital has acquired a majority stake in Sphere, a leading French household packaging manufacturer, aiming to expand its sustainability-focused product line while facilitating a significant management transition.

Information on the Target

Sphere, a leading manufacturer of household packaging with an annual revenue of €800 million, is focused on expanding its product line with recycled and biobased materials. The company aims to consolidate its position in the market while diversifying its offerings. Recently, Sphere has entered into a strategic partnership with Hivest Capital, which has acquired a majority stake in the company, thereby facilitating an exit for Orfite, which had invested in Sphere since 2017.

Founded in 1976 by John Persenda, Sphere has remained under the control of its founder and his family until this transaction. The deal marks the first time that Sphere has handed over control to a financial investor, indicating a significant shift in ownership dynamics. The acquisition was initiated through direct engagement, supported by Bucéphale Finance and Raphaël Financial Advisory, culminating in Hivest Capital obtaining approximately three-quarters of the company’s shares. Additionally, the management team is being expanded to include more executives, who will collectively own nearly 10% of the company.

Industry Overview in France

The packaging industry in France has been experiencing notable growth, bolstered by increasing consumer demand for sustainable packaging solutions. As environmental regulations tighten and consumers seek eco-friendly products, compani