The wave of consolidations announced since the new year began continues apace. Packaging and dispensing solutions company Aptar Group is to acquire US-based Fusion Packaging (FusionPKG), a specialist in airless and color cosmetics packaging as well as turnkey beauty solutions.
The deal – terms of which were not disclosed – will enable Aptar to strengthen its position in the North American market and better address demand for short lead times. “This is a key step in our strategy to address market demands for fast beauty solutions. […] FusionPKG’s expertise in turnkey solutions is especially valuable to disruptive indie brands, as well as large established customers requiring expeditious launches,” commented Aptar president and ceo Stephan Tanda.
Tanda highlighted the high growth potential of the color cosmetics and skincare markets, and remarked that FusionPKG’s model could be developed in Europe and other regions.
Dallas-headquartered FusionPKG was founded in 2004 and employs around 100 people. The company generated sales of around $80m in 2019. According to Aptar, FusionPKG has reported double-digit growth over the past few years.
The transaction is subject to customary closing conditions.