Creafund acquires West Flanders-based packaging company Coeman

Creafund acquires a stake in Coeman Packaging to support further growth

East Flanders-based investment company Creafund has acquired a stake in Coeman Packaging, a leading packaging specialist based in Waregem. The deal marks Creafund’s sixth investment in just eighteen months.

Creafund confirmed the transaction on Friday following earlier reporting by De Rijkste Belgen. Founded in 1985 by Philip Coeman—who remains CEO—Coeman Packaging has grown into a major player in the industrial packaging sector, offering a wide range of products and services.

With several dozen employees and annual revenue of approximately €40 million, Coeman Packaging supplies stretch, shrink, and cover films, strapping materials, and adhesive tapes. The company also offers equipment such as pallet wrappers and carton sealing machines. According to Creafund, Coeman Packaging is a market leader in its region, serving clients across logistics, food, retail, and pharmaceutical sectors.

Growth partner

Creafund is joining as a growth partner, with the clear aim of accelerating the company’s development. The investment brings financial backing to support expansion initiatives.

While Philip Coeman is stepping out of the company’s shareholding, CFO Luc Vanderbeke—his long-time right hand—is reinvesting alongside Creafund. Vanderbeke is contributing €500,000 to a total capital raise of €25.25 million, according to filings in the Belgian Official Gazette. Financial specifics beyond this have not been disclosed by Creafund.

This deal represents Creafund’s sixth investment in the past 18 months. Previous transactions include investments in Female Healthcare Purna, Sofics (chip technology), Cooper Consumer Health (a major OTC pharmaceuticals company), Sitra (food logistics), and HR specialist Planet Group.

Recently, Creafund also completed an exit, selling paint manufacturer Aalterpaint to entrepreneur Pascal Vanhalst (TVH Group). The firm currently manages €250 million in assets and is owned by its management team in partnership with 50 Flemish entrepreneurial families.

Source: De Tijd, Bert Broens, 3/06/2022, This is an automatically generated translation of the original article, Link to original article.