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
MakeUp in newYork hosted more than 3800 visitors, with a growth of 12% of international guests.

MakeUp in New York moves to Javits Center to continue growing

The latest edition of MakeUp in NewYork was a huge success, announced the organisers. Held at the Center415 on 5th Avenue, in Manhattan, on September 11&12, 2019, the two-day B2B event dedicated to the makeup and skincare supply chain welcomed more than 3800 visitors, with a growth of 12% of international guests. Brazil, Canada, (...)

read more
job opportunities
Experts’ views
100% natural and biodegradable film former offers enhanced sun care protection

Brittany Pease
100% natural and biodegradable film former offers enhanced sun care protection

LexFilm Sun Natural MB is a multidimensional film-forming polymer which imparts superior water-resistance to sunscreens in comparison to leading synthetic polymers. This latest innovation addresses consumers’ demand for natural ecofriendly ingredients, while supporting brands in their new product development goals as they navigate (...)

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