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 its capabilities through TNT's expertise in engineering and high-end packaging design.
PM Studio Group specialises in gifting, secondary packaging and bespoke accessories for beauty, luxury, fashion, jewellery and watch brands, and the deal continues its acquisition-led growth strategy. The combined group generates approximately EUR 130 million (about USD 145 million) in revenue and employs nearly 150 people worldwide.
Two businesses with complementary profiles
Co-founded in 2018 by Patricia Stranik and Sven Döbert, PM Studio Group has achieved average annual growth of more than 30%, reaching over EUR 70 million (about USD 78 million) in revenue in 2025. Its business is split between luggage (55%), packaging (30%) and accessories (15%), and it employs more than 90 people worldwide. Headquartered in Paris, the company has been backed by investment fund Andera Expansion since 2024 and has already completed several acquisitions, including By No and Édition Limitée.
Founded in 2013 by Toby Cattermole and Thomas Diezinger, TNT Group operates from Hong Kong, Paris and New York, serving established luxury houses as well as fast-growing niche brands, particularly in the beauty and wines and spirits sectors. The company works in engineering and eco-design, turning creative concepts into bespoke technical solutions, and is a pioneer in the use of recycled zamak. Like PM Studio Group, it runs a fabless model, outsourcing manufacturing to a network of industrial partners across Asia and Europe.
Scope of the combination and next steps
By combining their expertise, the two groups aim to cover a larger share of the value chain, from design to logistics. The acquisition is intended to broaden their customer base, spanning major international groups and fast-growing niche brands, and to strengthen their reach across Europe, Asia, the Middle East and North America. Beyond the complementary nature of their offerings, the transaction reflects PM Studio Group's ambition to build a global platform with further growth driven by acquisitions, leveraging its creative expertise alongside TNT Group's technical know-how to widen the packaging solutions it can offer brands.
"With TNT Group, it was love at first sight. We share the same philosophy, the same DNA, the same absolute passion for the product, and the same out-of-the-box thinking that drives us to constantly push the boundaries of creativity," said Patricia Stranik, CEO of PM Studio Group.
TNT Group founders Toby Cattermole and Thomas Diezinger are reinvesting a significant portion of the sale proceeds in the combined business, alongside key members of TNT Group's management team. For Thomas Diezinger, the partnership brings together PM Studio Group's "outstanding creativity" and TNT Group's "cutting-edge engineering" to create a global packaging powerhouse serving complementary projects and customer portfolios.
To support the growth ambitions of the two businesses through project synergies, Damon Kennish has been appointed CEO of TNT Group. He previously served as Chief Business Officer of the company, which he joined 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.