Sun European Partners, the private investment fund that currently owns Albéa, has announced to have entered into exclusive negotiations to sell the global manufacturer of packaging and accessories for the cosmetic, fragrances and beauty markets to funds advised by PAI Partners.

Headquartered in the suburbs of Paris, France, Albéa is one of the world’s leading packaging companies, providing a wide range of solutions for the make-up, fragrance, skincare, personal and oral care markets. The company’s product portfolio includes plastic and laminate tubes, mascaras, lipsticks, lip glosses, compacts, plastic closures and shells, spray-caps, jars, lids, cosmetic accessories, bags & promotional items. Albéa boasts 38 manufacturing sites in Europe, Americas and Asia

Acquired by an affiliate of Sun European Partners in 2010, the Albéa Group has been investing heavily to improve its operations and profitability and has successfully completed and integrated numerous acquisitions including Betts, Eyelematic, Tex and Rexam’s PC business, thus transforming itself into a world leading packaging company.

“We are excited for this new chapter in Albéa’s 60-year history. Sun has been an outstanding shareholder for the past seven years, continuously supporting our business development. We are looking forward to working with our new shareholder as we consolidate our position as the leading provider of solutions to the world’s most prestigious and most dynamic brands, building from our unique combination of customer-focus, operating excellence, large range of products and services, global reach, technical know-how, social responsibility and passion,” commented François Luscan, CEO of Albéa.

The proposed transaction is subject to customary regulatory approval.