Philippe Ughetto, President Arcade Europe

Philippe Ughetto, President Arcade Europe

Private equity fund Viveris Management has sold its participation in Carestia to Arcade Europe, a subsidiary of US group Visant.

Based in Grasse, South of France, and founded in 1883, Carestia is the French leader in the creation and manufacture of perfumed products, blotter cards, fragrance strips and booklets, folding boxes and vial cards, printed products, inserts and perfumed solutions.

Thanks to this operation the Arcade group, a world leader in promotional sampling, acquires its first production unit in Europe, its second largest market after North America.

"I am delighted about this acquisition, that will create technological and commercial synergies and more value for our customers," commented Philippe Ughetto, President, Arcade Europe.

Financial details of the transaction were not disclosed.