The two groups announced today that they have put an end to the negotiations concerning Qualipac, Pochet’s plastics and metal pole.
"Conditions for the success of the operation are indeed altered in the current complex and uncertain climate", explains the Pochet group in a statement.
"The consequences of the health crisis linked to Covid-19 have significantly changed the conditions and prospects initially forecast for the takeover of Qualipac and have not made possible to reach a new agreement," said PSB Industries.
The two companies had officially announced having entered into exclusive discussions on February 5, 2020. Priminter, Pochet’s trading business was also included in the negotiations.
Specializing in the transformation and decoration of plastics, aluminium and zamak, Qualipac generated around 239 million euros of sales in 2019 and employs more than 2,300 people around the world.
However, the Pochet Group is not giving up on its transformation plans and indicates that it will continue "looking for opportunities for Qualipac".
"The high-end beauty packaging market is undergoing significant changes. First of all, it is a market increasingly driven by the Skincare category, which today represents 40% of the global market and 60% of growth, while conversely the perfume market is slowing down. It is also a market whose centre of gravity is shifting to Asia. At the same time, the pressure of environmental challenges calls for substantial investments. Finally, we must jump on the bandwagon of the transformation of Industry 4.0 production technologies, with the introduction of artificial intelligence in factories. A number of changes, which will severely strain our resources. Especially since our clients’ expectations are also evolving at high speed, with in particular a growing demand for personalization of their customers and the increasing influence of indie brands. Many factors that require more agility on our part," said Tristan Farabet, Pochet’s CEO, in an interview to Premium Beauty News last February.