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Albéa Acquires Rexam Personal Care’s Cosmetics Division
France based leading packaging company Albéa has completed the acquisition of the cosmetics division of Rexam Personal Care, a supplier of advanced packaging solutions.
The cosmetics branch of Rexam employs around 6500 people and operates at 11 manufacturing sites in America, Asia and Europe. It was put up for sale in July 2012. The amount of the deal has not been disclosed by the companies but according to a statement by the British newspaper Financial Times, the deal has cost a sum of $459m.
Albéa employs 10200 people and operates in 35 locations in 13 countries. It is owned by the European subsidiary of the U.S. investment company Sun Capital Partners.
Albéa announced that the deal confirms its position as a world leader in cosmetics and personal care business by including packaging solutions and distribution systems to its range of tubes and rigid packaging for cosmetics, personal care and beauty industry.
Conversely, Stamford based Silgan Holdings Inc. which is a leading producer of rigid packaging solutions for consumer goods, has purchased Rexam’s food packaging business for $250m.
Meanwhile, Rexam has formed a new company – KubeTech Custom Molding Inc. which is divested from its personal care and home business. KubeTech will operate as a separate company but will be backed as a subsidiary of Sun Capital.