Austrian coated cartonboard firm Mayr-Melnhof Packaging (MM Packaging) has made an offer to acquire French packaging firm Illeos’ carton printing operations, Alliora and Packetis, for an estimated €80 million. The deal is subject to French regulatory approval.

Illeos, who has been owned by Oaktree Capital Management since December 2011, is said to be retaining Alliora’s setup boxes and assembly subsidiary and Paul Quéveau will remain as director of this unit.

Illeos posted sales of €115 million in 2014; the company owns five sites producing folding cartons for the pharmaceutical industry and two for luxury products and cosmetics. The company has produced boxes and coffrets for leading fragrance brands including Nina Ricci (Puig), and Jimmy Choo (Inter Parfums).