Private equity firm Waterland completed the acquisition of Leupold, a Germany-based packaging and folding carton producer, for €72m. "Over the past years, we have continuously invested in the technical improvement of our processes, which has led to positive and sustainable developments benefitting our employees and customers. By implementing this succession plan, we want to initiate the next phase of our development – for this purpose we have joined up with Waterland as an experienced specialist for growth strategies," Reiner Kamphausen, Leupold Managing Director.