Bain Capital Private Equity has acquired US-based cosmetic packaging products manufacturing firm World Wide Packaging for an undisclosed fee.
World Wide Packaging specialises in plastic tubes and formulation/filling technologies. It offers packaging components, custom and stock moulding, and full-service turnkey operations to the cosmetics and personal care industries.
World Wide Packaging CEO Barry Freda said: “World Wide Packaging looks forward to bringing our high quality, award-winning packaging innovations, and speed to market to more companies across the globe.”
Bain Capital has also recently agreed to acquire an undisclosed Chinese cosmetics packaging manufacturer.
The company plans to form a fully integrated solutions provider by combining the two acquired firms.
The combined entity is expected to leverage World Wide Packaging’s design and manufacturing capabilities in China in order to provide solutions to beauty brands in the US and beyond.
Bain Capital Private Equity managing director Jonathan Zhu said: “With this deal, the combined entity will have a customer-facing function primarily in the US, and manufacturing, sales and marketing operations in China.
“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.”