Happi Staff02.14.20
AptarGroup Inc., an expert in consumer dispensing, active packaging and drug delivery solutions, has entered into a binding agreement to acquire Fusion Packaging I L.P. (FusionPKG). FusionPKG specializes in high quality, prestige airless and color cosmetics packaging, and conception-to-launch turnkey solutions for the North American beauty market.
Founded in 2004 by Jonathan Gross and Derek Harvey, FusionPKG has existing relationships with many global cosmetic and skin care customers as well as many growing indie brands. 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 $80 million.
“This is a key step in our strategy to address market demands for fast beauty solutions with differentiated design and decorative offerings. We are strengthening our formidable portfolio by broadening our agile design and full-service beauty packaging capabilities,” said Stephan Tanda, Aptar president and CEO. “We believe the color cosmetics and skin care markets offer high growth potential, and FusionPKG has been growing at double-digit rates over the past few years. Our plan is to leverage FusionPKG’s market facing strengths in combination with our broad product and technology platforms.”
“This is the next step in our entrepreneurial growth journey and Aptar is the perfect fit for us. We see tremendous commercial synergies and are very excited about combining our core design and concept-to-launch expertise with Aptar’s global network and broad product portfolio,” commented Harvey.
The transaction, which is expected to be accretive to Aptar’s Beauty + Home segment margins, is subject to customary closing conditions.
Founded in 2004 by Jonathan Gross and Derek Harvey, FusionPKG has existing relationships with many global cosmetic and skin care customers as well as many growing indie brands. 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 $80 million.
“This is a key step in our strategy to address market demands for fast beauty solutions with differentiated design and decorative offerings. We are strengthening our formidable portfolio by broadening our agile design and full-service beauty packaging capabilities,” said Stephan Tanda, Aptar president and CEO. “We believe the color cosmetics and skin care markets offer high growth potential, and FusionPKG has been growing at double-digit rates over the past few years. Our plan is to leverage FusionPKG’s market facing strengths in combination with our broad product and technology platforms.”
“This is the next step in our entrepreneurial growth journey and Aptar is the perfect fit for us. We see tremendous commercial synergies and are very excited about combining our core design and concept-to-launch expertise with Aptar’s global network and broad product portfolio,” commented Harvey.
The transaction, which is expected to be accretive to Aptar’s Beauty + Home segment margins, is subject to customary closing conditions.
