Bain Capital Private Equity has acquired World Wide Packaging (WWP), the cosmetics packaging and formulation company, as part of a bid to bring innovative packaging solutions to beauty brands in the US and beyond.
World Wide Packaging has developed packaging for a range of beauty and personal care brands including Estée Lauder, L’Oréal, Shiseido, Dermalogica and Milk Makeup.
Now, the partnership with Bain Capital Private Equity will bring together WWP's design and manufacturing capabilities with Bain's expertise in global markets to deliver cutting edge packaging to beauty brands worldwide.
Barry Freda, CEO of World Wide Packaging, said: “Having enjoyed more than four decades of uninterrupted growth, World Wide Packaging is excited about Bain Capital’s investment in our future growth.
“World Wide Packaging looks forward to bringing our high quality, award-winning packaging innovations and speed to market to more companies across the globe.”
Eyes on China
Meanwhile, Bain has also purchased a Chinese cosmetics packaging company that will merge with WWP to strengthen its manufacturing, sales and marketing operations in China, according to the company.
Jonathan Zhu, Managing Director at Bain Capital Private Equity, added: “We look forward to working with World Wide Packaging to preserve and enhance its presence in the independent beauty market and grow its presence among large beauty players, in the US and beyond, particularly in China, where demand for cosmetics is growing three times as fast as the US.”
