Follow us twitter facebook
Edition: Global
Click here to subscribe toour free weekly newsletter click here
Companies & industry

Rexam finalises sale of its personal care business

Rexam got the green light from the Chinese authorities regarding the sale of its cosmetics, toiletries and household care products business to Albéa.

The London-headquartered consumer packaging company confirmed today that it has received approval from the Chinese authorities for the sale of its cosmetics, toiletries and household care products business for 459 million US dollars in cash. This, together with the sale of the High Barrier Food business (as announced on 31 August 2012), finalises the sale of Rexam’s personal care business for a total of 709 million US dollars (439 million British pounds or 536 million euros).

Last November, the European Commission also cleared the Albéa-Rexam merger considering that “customers in the cosmetics and perfumery industry will continue to have alternative suppliers for cosmetic packaging.

The completion of this last regulatory step, opens the way to the creation a global leader in laminate and plastic tubes, foam pumps, fragrance samplers, lipstick and mascara containers, formed by the adjunction of Rexam’s cosmetics (10 manufacturing units, 6,000 staff) business to Albéa (35 manufacturing, 10,000 staff). According to Moody’s the combined company will hold the second largest market share in the fragrance pumps category and the third largest market share in the lotion pumps category

On 3 July 2012, Rexam announced its intention to return around 370 million British pounds to shareholders following completion of the disposal of Personal Care. Rexam anticipates that on or about 8 January 2013 it will post a circular to shareholders regarding the proposed Return of Cash.

© 2012 - Premium Beauty News - www.premiumbeautynews.com
latest news
Focus
spip-vignette

A new trade show dedicated to clean beauty in London

Dubbed Clean Beauty in London the new trade show intends to gather experts, scientists, suppliers, brands, influencers and journalists under one roof “to build the future of clean beauty.” Taking place on October 12 & 13, 2020 at The Brewery, located at 52 Chiswell Street at the heart of London, the event aims to encourage (...)

read more
job opportunities
Experts’ views
The rise of indie French Touch - Three favorites from the “Made in France” Exhibition

Cosmetics Inspiration & Creation
The rise of indie French Touch - Three favorites from the “Made in France” Exhibition

Who said “Indie” only came from the US? French Beauty brands are blooming with a renewed creativity, disrupting the indie game with the French savoir-faire. Beauty trends and marketing firm Inspiration & Creation has selected their three favorites from the last edition of the ‘Made in France’ show. Vive la Révolution! American indie (...)

read more

Features

We use cookies to give you a better browsing experience. By continuing your visit to this site, you accept the use of cookies. Read more and set cookies
close