Albéa has agreed to acquire Amfora Packaging to boost its presence in Latin America.
The cosmetics packaging company said the move marks a “significant milestone” for expansion in the region, which it said was one of the fastest-growing markets for beauty and personal care.
The deal, terms of which were not disclosed, will expand Albéa’s offering in color cosmetics, skin care, personal care and fragrance.
Headquartered in France, Albéa manufactures packaging for the likes of L’Oréal, Clarins and Kayali.
“Albéa is taking a proactive step to strengthen its global footprint and complement its existing operations in the US and Mexico”, said Francois Tassart, CEO of Albéa Group.
“With its strong customer intimacy, Amfora Packaging will give Albéa direct access to key players in the beauty and personal industry, it will help us continue serving at best our international customers, and meet the growing demand for local sourcing.”
Bertrand de la Tour d’Artaise, Senior Vice President Strategy and M&A at Albéa Group commented: “This acquisition is a strong milestone in our ambition to lead the beauty packaging industry across all key geographies.
“We couldn’t have found a better partner: our two companies share the same passion for customers, a commitment to innovation, and a common DNA rooted in culture, business vision, and social responsibility.”
Amfora Packaging was created by US private equity firm ACON Investments in 2015, following the acquisition and merger of Intecplast in Bogotá and Pieriplast in Lima, both family-owned businesses.
“We are very proud of how Amfora's team transformed and grew two independently managed, diverse family businesses into an institutionalised, export-oriented company serving top-tier clients across Latin America, North America and Europe,” said Alberto Hernandez, Partner at ACON.
“As a result, we believe the company is well-positioned for its next chapter of growth under Albéa's stewardship.”