PM Studio Group has acquired TNT Group, combining the two businesses into a packaging operation with approximately EUR 130 million (USD 145 million) in revenue and a stated ambition to become a leading global packaging partner for the beauty, luxury, and wines and spirits industries.

The deal marks another step in the French group's acquisition-led growth strategy. PM Studio Group specializes in gifting, secondary packaging, and bespoke accessories for prestige brands. TNT Group brings additional packaging capabilities that extend the combined entity's reach across the beauty and luxury supply chain.

What does the deal change for beauty packaging buyers?

The combined EUR 130 million revenue base gives the enlarged group scale that few independent secondary packaging specialists can match. For procurement teams at beauty houses, that scale matters. It signals capacity to serve multi-market launches, seasonal gifting programs, and limited-edition coffrets from a single partner rather than a patchwork of regional suppliers.

Secondary packaging — the boxes, sleeves, ribbons, and bespoke accessories that surround the primary container — sits at the intersection of unboxing experience and cost control. A supplier with the combined group's footprint can consolidate those SKUs. Fewer supplier relationships mean shorter specification cycles and, in theory, tighter control over materials and finishes across markets.

Why consolidation is reshaping this segment

Acquisition-led growth is the mechanism here, not organic capacity addition. PM Studio Group has built its position by buying complementary businesses, and TNT Group is the latest addition. The strategy follows a pattern visible across the premium packaging sector: mid-sized specialists combine to reach the scale that global beauty and luxury clients increasingly demand.

The target industries — beauty, luxury, and wines and spirits — share a common requirement. All three buy presentation packaging where tactile quality and customization carry as much weight as unit price. A supplier that masters one segment can often transfer those capabilities to the others, which explains the deliberate breadth of the combined portfolio.

For brand owners, consolidation cuts both ways. A larger partner offers broader capabilities and more consistent delivery. It also reduces the number of independent suppliers in the market, which procurement teams will factor into sourcing decisions and negotiation planning.

What to watch next

The stated ambition is global leadership in packaging for these three sectors. Reaching it will require further deals, further geographic extension, or both. Beauty brands planning gifting and coffret programs for upcoming seasons should expect the enlarged group to pitch integrated secondary packaging programs built on the combined capability set.

The next data point to watch is whether PM Studio Group confirms further acquisitions in the coming quarters, or discloses how it will integrate TNT Group's operations and client base into its existing structure.

By Marcus Bennett