Private equity continues to embrace contract manufacturers. Chicago PE firm Core Industrial Partners
has closed a majority investment in Arizona Natural Resources
(ANR). Terms of the deal were not disclosed, but according to John May, managing partner, Core, the move is is the first step in a bigger plan to expand to build a beauty powerhouse. This is Core's first move in the beauty space.
ANR, headquartered in Phoenix and founded in 1972, operates a midsize contract manufacturing operation that makes custom product formulations, specializing in skin care and hair care.