Acquisition strengthens presence in Chinese market
Albéa has announced its acquisition of Zhongshan Meiquan Plastic Products Co Ltd, belonging to the TEX R.L. group.
Zhongshan Meiquan Plastic Products Co Ltd, better known as TEX China, manufactures packaging for the cosmetics and perfumery sectors. Located in Guangdong Province in China, it has 700 employees and three factories specialising in the production of mascara, lip gloss, lipstick, pots and cases. With this acquisition, Albéa now has 10,200 employees and 36 sites across 13 countries.
Albéa, which already has five production sites in China and a sales office in Shanghai, considers the acquisition to strengthen its presence in the Chinese market. It can now also offer new expertise on Chinese territory to its international customers.
François Luscan, president and ceo of Albéa, said: “The acquisition of Tex China and its attractive portfolio of standard solutions have allowed Albéa to consolidate its global product offer. We also have a local innovation and development team, a necessary tool if we want to penetrate the fast-growing Chinese market.”