2 January 2018
Paris, France – PAI Partners (“PAI”), a leading pan-European private equity firm, announces today that it has entered into exclusive negotiations with an affiliate of Sun European Partners, LLP (“Sun”), for the acquisition of Albéa, the world leader in beauty & personal care (“BPC”) packaging.
Albéa is a global leader in BPC packaging, providing tubes, dispensing systems, rigid packaging and solutions for the colour cosmetics, fragrance, skin care, hair care and oral care markets across the world. The company has undergone a transformation under Sun’s ownership, in particular through a number of significant acquisitions.
François Luscan, CEO of Albéa, commented: “We are excited for this new chapter in Albéa’s 60-year history. Sun has been an outstanding shareholder for the past seven years, continuously supporting our business development. We looking forward to working with our new shareholder as we consolidate our position as the leading provider of solutions to the world’s most prestigious and most dynamic brands, building from our unique combination of customer-focus, operating excellence, large range of products and services, global reach, technical know-how, social responsibility and passion.”
Laurent Rivoire, Partner at PAI Partners, commented: “We are delighted to enter into exclusive negotiations with Sun European Partners to acquire Albéa. We have closely followed the progress of the company and have been very impressed by the transformation achieved by its management team. Albéa is a unique company with strong competitive positions in BPC packaging markets worldwide. We are looking forward to partnering with Albéa’s management team to continue strengthening Albéa’s market position and to support the implementation of an accelerated growth strategy, particularly through acquisitions.”
The relevant employee works councils of Albéa will be consulted in respect of the transaction and completion of the transaction would be subject to regulatory approval and other customary conditions precedent.