Aptar buying cosmetics industry supplier Fusion Packaging
Founded in 2004, Dallas-based Fusion employs approximately 100 people worldwide and generated sales of approximately $80 million last year.
Consumer dispensing, active packaging, and drug delivery solutions provider AptarGroup Inc. is acquiring Fusion Packaging I, L.P. (FusionPKG), a manufacturer of cosmetics packaging for the North American beauty market.
The financial terms of the deal have not been disclosed.
Founded in 2004, FusionPKG employs approximately 100 people across its headquarters in Dallas, sales and design offices in New York and Los Angeles, and operations in New Jersey and China. For 2019, FusionPKG generated sales of approximately US$80 million.
“This is a key step in our strategy to address market demands for fast beauty solutions with differentiated design and decorative offerings,” Stephan Tanda, Aptar’s president and CEO, said in a Feb. 24 statement. “FusionPKG’s expertise in turnkey solutions is especially valuable to disruptive indie brands, as well as large established customers requiring expeditious launches. We believe the colour cosmetics and skin care markets offer high growth potential, and FusionPKG has been growing at double-digit rates over the past few years.”
The statement also noted that, in addition to complementing its North American business, FusionPKG offers “great potential” for Aptar to scale this model in Europe and other regions.
Aptar is headquartered in Crystal Lake, Ill., and has approximately 14,000 employees in 17 countries.