Global dispensing, drug delivery and packaging solutions firm Aptar has acquired a 49% stake in Chinese colour cosmetics packaging manufacturer, BTY Group. The group is made up of Suzhou Hsing Kwang, Suqian Hsing Kwang and Suzhou. The three firms produce decorative metal components, metal-plastic sub-assemblies and packaging solutions for colour cosmetics.
Aptar’s investment will expand capabilities such as high-speed stamping and adonisation, metal and plastic decoration, lipstick masstige mechanism design and manufacturing. The company said the investment positions it well to capitalise on growth potential in the Asian colour cosmetics market.
“We are committed to growing our business in Asia and to creating an even stronger local presence in this region,” said Stephan Tanda, Aptar president and CEO. “This strategic equity investment better positions us in the high-growth Asian colour cosmetics market and we look forward to leveraging our expansive portfolio of dispensing technologies, along with our global scale, to build upon BTY’s success in this market.”
Financial details will be released after the transaction has completed, however, it is expected to close by the end of 2019. Liang Cheng, founder of the BTY companies, added: “Aptar and BTY share many of the same values including the desire to improve the lives of consumers around the world.
“Aptar, a leader in the beauty, pharmaceutical and food packaging industries, continuously strives to provide customers with the perfect innovative solution. This drive is also found in BTY’s DNA.
“Together, we will be able to provide customers with further agility, speed to market and an enhanced portfolio of products and services, all while contributing positively to people’s lives, our society and ultimately the planet.”