Primary LBO MAKAO with Florac
Paris (France), September, 10 2025
MAKAO welcomes Florac as a minority shareholder to support its organic growth and accelerate its external growth strategy.
Financière de Courcelles advised MAKAO’s shareholder on the successful completion of this primary minority LBO and the related financing.
Founded in 2011 in Paris, the MAKAO Group is a recognized player in the design and manufacturing of premium packaging and high value-added gifts for the Fine Food segment as well as other luxury sectors. Thanks to its integrated hybrid “Trade or Make” model, combining a network of quality partners with in-house production capacity through Ets Edmond in Mâcon (created to build a French manufacturing tool and expertise), MAKAO controls the entire value chain, from creation to production. The Group also operates a Paris-based workshop dedicated to design, conception and prototyping, enabling high responsiveness and close collaboration with clients from the earliest stages of product development. This Parisian studio allows clients to meet the creative teams and visit the showroom.
MAKAO leverages widely recognized creative and technical excellence, strong innovation capabilities and great operational agility to develop multi-material and multi-purpose products. These strengths make it a trusted strategic partner for the most demanding houses in the Fine Food, Wines & Spirits, Niche Perfumery and Cosmetics sectors.
With Florac’s support, MAKAO aims to continue its organic development and accelerate its external growth strategy, expanding its expertise into new verticals, new clients and new geographies, while further structuring its operations to meet growing client demands for quality, innovation and sustainability.
On this occasion, David Jankowski, the Group’s founder and CEO, has significantly reinvested, remaining the majority shareholder, and will continue to lead MAKAO’s development with the support of the Management team, who are also investing alongside him.
David Jankowski, CEO of MAKAO
“I greatly appreciated the collaboration with the Financière de Courcelles team, whose commitment and attentiveness were constant throughout the process. Their sector expertise, and in particular Jonathan Bursztyn’s deep knowledge of the packaging market, was a valuable asset for the success of this transaction.
Jonathan Bursztyn, Managing Partner at Financière de Courcelles
“We are very proud to have supported David Jankowski and his team in this primary minority LBO. This transaction enables MAKAO to partner with a long-term investor, while preserving its independence and entrepreneurial DNA. This deal once again illustrates our expertise in supporting owner-managers through primary and ambitious growth transactions.”
About MAKAO
Founded in 2011, the MAKAO Group specializes in the design and manufacturing of premium packaging solutions for high-end artisanal houses. Initially focused on the Fine Food segment, MAKAO has gradually expanded into Wines & Spirits, Niche Perfumery and Cosmetics. With an integrated production model in France and recognized creative expertise, the Group has established itself as a trusted partner for the most prestigious brands. MAKAO offers comprehensive expertise in design, conception and prototyping, with a Paris-based studio and a production facility in Mâcon. Its multi-product, multi-material creations combine aesthetic excellence with technical complexity, positioning MAKAO as a key player in premium packaging and high-value gifts at the crossroads of craftsmanship and luxury.
About Florac
Florac is an investment company owned by Marie-Jeanne Meyer and her children, historical shareholders of the Louis Dreyfus Group. Florac invests ticket sizes ranging from €15 million to €100 million alongside strategic partners, founders or executives, in companies with strong long-term growth potential. Since its creation in 2009, Florac has invested in nearly 40 companies as a majority or minority shareholder, in France, Europe and the United States. Its family ownership and flexible investment horizon enable it to support companies over the long term. Florac has offices in Paris and Los Angeles.
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