French group PM Studio Group has acquired TNT Group, a specialist in premium primary and secondary packaging for the beauty and wines and spirits industries, extending an acquisition-led growth strategy.
PM Studio Group specialises in gifting, secondary packaging and bespoke accessories for beauty, luxury, fashion, jewellery and watch brands. According to the company, the combined group generates approximately EUR 130 million (around USD 145 million) in revenue and employs nearly 150 people worldwide.
Combined scale and business mix
Co-founded in 2018 by Patricia Stranik and Sven Döbert, PM Studio Group has grown at an average annual rate of more than 30%, reaching over EUR 70 million (about USD 78 million) in revenue in 2025. Its business is divided between luggage (55%), packaging (30%) and accessories (15%), and it employs more than 90 people worldwide. Headquartered in Paris, the group has been backed by investment fund Andera Expansion since 2024 and has already completed acquisitions including By No and Édition Limitée.
TNT Group, founded in 2013 by Toby Cattermole and Thomas Diezinger, operates from Hong Kong, Paris and New York, serving established luxury houses as well as successful niche brands, particularly in beauty and wines and spirits. The company points to expertise in engineering and eco-design, translating creative concepts into bespoke technical solutions, and describes itself as a pioneer in the use of recycled zamak. Like PM Studio Group, it runs a fabless model, outsourcing manufacturing to industrial partners across Asia and Europe.
Value chain and market reach
The two groups say the combination will allow them to cover a larger share of the value chain, from design to logistics, and to broaden their customer base across major international groups and fast-growing niche brands. They also expect it to strengthen their reach across Europe, Asia, the Middle East and North America.
Beyond the complementary nature of their offerings, the deal reflects PM Studio Group's ambition to build a global platform with further growth driven by acquisitions. The group plans to pair its creative expertise with TNT Group's technical know-how to widen the packaging solutions it can offer brands.
Leadership and ownership
Stranik, CEO of PM Studio Group, said the match was immediate, describing a shared philosophy, DNA, passion for the product and unconventional thinking that she said drives both businesses to keep pushing the boundaries of creativity.
TNT Group founders Cattermole and Diezinger are reinvesting a significant portion of the sale proceeds in the combined business, alongside key members of TNT Group's management team. Diezinger framed the partnership as bringing together PM Studio Group's creativity and TNT Group's engineering to create a global packaging powerhouse serving complementary projects and customer portfolios.
To support the growth ambitions of both businesses through project synergies, Damon Kennish has been appointed CEO of TNT Group. He previously served as the company's Chief Business Officer, a role he took up in 2025.
PM Studio Group, a certified B Corp and an EcoVadis Platinum medalist, plans to continue expanding internationally while preserving the distinct identities and entrepreneurial agility of both businesses.