PM Studio Group has acquired TNT Group, a specialist in premium primary and secondary packaging for the beauty and wines and spirits industries, extending the French group's capabilities into 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. It describes the deal as a new stage in its acquisition-led growth, combining complementary areas of expertise rather than overlapping ones.
Scale and structure of the combined group
The combined group generates approximately EUR 130 million (about USD 145 million) in revenue and employs nearly 150 people worldwide. PM Studio Group itself 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.
Founded in 2018 by Patricia Stranik and Sven Döbert, PM Studio Group is headquartered in Paris and has been backed by the investment fund Andera Expansion since 2024. The company has already completed several acquisitions, including By No and Édition Limitée.
TNT Group's profile
TNT Group was founded in 2013 by Toby Cattermole and Thomas Diezinger and operates from Hong Kong, Paris and New York. It serves established luxury houses and fast-growing niche brands, particularly in beauty and wines and spirits. Its expertise covers engineering and eco-design, turning creative concepts into bespoke technical solutions, and it is a pioneer in the use of recycled zamak.
Both groups operate a fabless model, outsourcing manufacturing to a network of industrial partners across Asia and Europe.
Rationale and leadership
By combining their expertise, the two groups aim 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 to strengthen their reach across Europe, Asia, the Middle East and North America.
Patricia Stranik, CEO of PM Studio Group, described the match in terms of a shared philosophy, DNA and passion for the product, saying both companies are driven by out-of-the-box thinking that pushes the boundaries of creativity. Thomas Diezinger framed the partnership as a combination of PM Studio Group's creativity and TNT Group's engineering to build a global packaging powerhouse serving complementary projects and customer portfolios.
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. 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, said it plans to continue expanding internationally while preserving the distinct identities and entrepreneurial agility of both businesses. The acquisition reflects its ambition to build a global platform with further growth driven by acquisitions, leveraging its creative expertise alongside TNT Group's technical know-how.