SPH to sell assets to Schwan-Stabilo 1-Apr-2010

Specialty Packaging Holdings Inc (SPH) and its wholly-owned subsidiaries – The Specialty Packaging Group Inc, Cosmetics Specialties Inc, Cosmolab Inc, Cosmetics Specialties East LLC and Cosmolab New York Inc – have announced the sale of substantially all assets of Cosmetics Specialties Inc, Cosmolab Inc and Cosmolab New York Inc to All4 Cosmetics Inc, a subsidiary of Schwan-STABILO Cosmetics GmbH & Co KG.

The SPH Companies filed voluntary petitions for reorganisation under Chapter 11 of the US Bankruptcy Code on 20 January this year. The company, through its subsidiaries, is a global developer and manufacturer of colour cosmetics.

Commenting on the acquisition, Schwan-STABILO md Ulrich Griebel said: “We look forward to investing significant resources into Cosmolab in order to build a financially stable company for decades to come.”