The sale of Primack to U.S. company Topline, in 2011, marked the launch of Cosfibel’s new strategy. So far, the group had developed itself in the packaging and merchandising businesses around three areas: primary packaging, secondary packaging and promotional items, primarily for the perfumery and cosmetic markets. “We sold Primapack because its development required investments and the implementation of a strategy that did not correspond to our projects,” explains Alain Chevassus, President of the group.
By selling its primary packaging business and thus stepping down from three to two core businesses, the Cosfibel group also gained the means to achieve new ambitions. “We will focus our efforts to become one of the two or three leaders in this market,” says Alain Chevassus. The group, which is expected to generate approximately 75 million euros in sales in 2012 (15 million euros for Cosfibel Industries and 60 million euros for Cosfibel Premium), is aiming 100 million euros in 2013.
Created twelve years ago, Cosfibel experienced a dramatic organic growth that exceeded 25% per year, excluding the crisis years. “We now want to add external growth through acquisitions to the organic growth of our sales and thus diversify our products and markets.” It is in this context that, during the summer, the group acquired Solvpack, a company specializing in the manufacture of luxury boxes for the wines and spirits European market.
The Cosfibel group’s managing team does not hide that other acquisitions are under discussion. “Our ambition is not to become a generalist but a multi-specialist able to meet the various demands of customers,” says Alain Chevassus. The new projects are expected to materialize before the end of the year and are expected to help rebalancing the respective shares of the beauty & cosmetic business (which still represents 67% of sales) and of the wines and spirits business.
Cosfibel intends to operate this strategic shift while retaining all the assets that contributed to the group’s success so far, in particular its creativity combined with a multi-material competence.
“The more we move towards ultra luxury, the more we must be able to achieve multi-material projects,” says Ilan Schinazi, President of Cosfibel Premium. Today, Cosfibel teams can work indifferently with plastics, metals and cardboard, and even wood and textiles, thus bringing strong differentiation to the company.
In parallel, Cosfibel, which had initiated an active sustainable development programme since 2007, is expanding its activities to cover diversity and solidarity through a project called CARES for Cosfifel Action for Responsible and Ethical Sourcing. An employee of the group is responsible for this program with the mission to select suppliers in China that are willing to hire minorities and people with disabilities.