AptarGroup, Inc. (NYSE:ATR), a global leader in consumer dispensing, active packaging and drug delivery solutions, announced it has entered into a binding agreement to acquire Fusion Packaging I, L.P. (“FusionPKG”). FusionPKG is a leader in high quality, prestige airless and color cosmetics packaging, and conception-to-launch turnkey solutions for the North American beauty market.
FusionPKG, brings global cosmetics and skin care customers, as well as many rapidly growing indie brands, employs approximately 100 people at its Dallas headquarters, sales and design offices in New York and Los Angeles and operations in New Jersey and China. In 2019, it generated sales of approximately $ 80 million. The transaction, which is expected to be accretive to Aptar’s Beauty + Home segment, is subject to the usual closing conditions.
Aptar grows by acquisition and investment since 2005, when it bought the MBF group. In 2016 it also bought Mega Airless. In May 2018 the Reboul packaging business (Vacheron Group) and in late 2019 it acquired a 49% stake in three Chinese makeup packaging BTY companies.
For Stephan Tanda, President and CEO of Aptar, the acquisition is a fundamental step in the strategy of meeting the market demands for fast beauty solutions with differentiated design and decorative offers. “We are strengthening our portfolio, with agile design and complete beauty packaging resources. ”
“FusionPKG’s experience in innovative solutions is especially valuable for disruptive indie brands, as well as for large established customers who demand quick launches. Our plan is to leverage FusionPKG’s market facing strengths in combination with our broad product and technology platforms, ”said Tanda.
For Derek Harvey, co-founder of FusionPKG, the agreement meets the desired growth for the company: “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.”