Citic Capital China Partners is in advanced talks with Oaktree Capital Management to acquire French cosmetic packaging solutions provider Axilone.
Based in Paris, Axilone designs and manufactures plastic and metal packaging solutions for global cosmetics, perfume and beauty care brands and customers.
Part of the Ileos Group, Axilone produces caps, jars, dispensing caps, galvanized and metallized collars and jarsfor lipstick, fragrance, and skincare products.
The firm is expertise in the entire project cycle ranging from conception to assembly, as well as manufacturing and decoration techniques such as hot-stamping, silk-screening, pad printing, laser engraving, lacquering and metallization on plastic.
With around 2,000 employees, Axilone has subsidiaries in France, Spain, the US and China. It operates manufacturing facilities in France, Spain and China.
Subject to legal and regulatory approvals, the transaction is expected to complete by the end of 2017.
Citic Capital senior managing director Hanxi ZHAO said: “We are very excited about this opportunity. Axilone is a leading player in the beauty care packaging sector, serving leading customers globally with unparalleled product quality and service.
“We are committed to working with the talented management team to continue to tap into the enormous potential in the space, and take their success to the next level globally.”
Ileos Group president and managing director Jean ROLLIER said: “Axilone has enjoyed strong growth during Oaktree’s holding period, and we believe the company is well positioned to continue its trajectory to enhance its leadership in the beauty care packaging category.”
