Citic Capital China Partners has completed the acquisition of French cosmetics packaging firm Axilone from Oaktree Capital Management for an undisclosed sum.
Based in Paris, Axilone is engaged in the design and manufacturing of plastic and metal packaging solutions for global cosmetics, perfume and beauty care brands and customers.
The company provides primary plastic and metal packaging solutions for premium lipstick, fragrance, and skincare products.
Axilone produces caps, jars, dispensing caps, galvanized and metallized collars for the fragrance and skincare markets.
The company manages entire project cycle from conception to assembly and manufacturing. It can also use decoration techniques such as hot-stamping, silk-screening, pad printing, laser engraving, as well as lacquering and metallization on plastic.
Established in 1971, the company employs more than 2,000 people and serves major beauty and personal care companies across the Globe.
The company operates manufacturing facilities in France, Spain and China.
Citic Capital senior managing director Hanxi ZHAO said: “We see remarkable growth potential and in the premium beauty care packaging sector, as global beauty players try to compete to communicate their brands and differentiate themselves from their peers.
“Axilone enjoys an absolute leadership in the premium lipstick packaging, as well as other skincare and perfume packaging.”
Axilone CEO Laurent Chevallier said: “The whole management is very excited and committed to work with CITIC Capital, and we are confident that through continued geographic expansion and product category expansion in the next few years, we can take the success to the next level. “
With over 820,000 employees across the globe, Citic Capital manages 130 portfolio companies that serve 11 sectors.
Image: Citic Capital China Partners has acquired French cosmetics packaging provider Axilone. Photo: courtesy of adamr / FreeDigitalPhotos.net.