Global investment firm, Carlyle has acquired a 100% stake in HCP Packaging, a global leader in the design, development and manufacture of cosmetic primary packaging, from funds affiliated with Baring Private Equity Asia (BPEA).
Founded in 1960 and headquartered in Shanghai, HCP is currently one of the world’s largest beauty packaging providers with 10 production and manufacturing facilities across China, the USA, Mexico and Europe. HCP’s product portfolio includes compacts and palettes, lipsticks and twist up sticks; mascara with expertise in moulded and fibre brushes; lip gloss and concealer, pots, jars, and closures; pumps and droppers. The company works with over 250 leading cosmetics, skincare and fragrance brands including Estée Lauder, L’Oréal and Shiseido.
Carlyle said it intends to support HCP as it continues to scale its operations and grow its customer base globally. The investment firm will also work with HCP to help explore strategic acquisitions.
“Our strategic priorities continue to be centred on driving sustainable packaging innovation and delivering top-quality services and best-in-class operational excellence to our customers around the world. We are delighted to partner with Carlyle and to have a new owner with such high calibre. We look to leverage Carlyle’s global platform strengths for our next phase of growth and as we expand our leading market position internationally,” commented Eddy Wu, President and CEO of HCP Packaging.
The transaction is subject to customary regulatory approvals and is expected to close in Q3 2022.