Quadpack Industries (Euronext Growth: ALQP) and PSB Industries (a private company) announce their project to combine Quadpack and PSB’s main subsidiary Texen into a single group, placing the two beauty packaging manufacturers and providers under the umbrella of PSB Industries. The group will be positioned among the Top 5 cosmetics packaging companies worldwide, boasting combined sales of around €350 million, over 2,000 employees, an industrial presence in six countries and operational and commercial operations in Asia, Europe and the Americas.
PSB Industries Chairman and CEO François-Xavier Entremont said: “There is an extraordinary synergy between the businesses, not least in the values we share. With passionate and committed teams, a comprehensive service offering, global geographical coverage and critical size, the new group will be able to accelerate the development of its combined expertise and eco-design commitment, in a stronger position to serve the beauty market, its brands and its consumers. With this transaction, we will reinforce our position as a leading player in the transformation of materials and packaging for the makeup, skincare and fragrance markets.”
A perfect fit
The complementary nature of the two businesses, when combined, will enable an improved service to beauty brands, with an even more complete value proposition. Headquartered in Brion, France, Texen creates bespoke packaging solutions for the luxury makeup and perfumery markets from its multiple factories in France, Poland, Mexico and the US. Headquartered in Barcelona, Spain, Quadpack provides standard packaging solutions for the masstige skincare and makeup markets. Its factories in Germany and Spain are complemented by an extensive sales network in Europe, the US and Australia.
Together, Texen and Quadpack will be able to reach new territories, new market segments and a broader client base, with a comprehensive, creative and sustainable product offer, from ready-to-use ranges to tailor-made solutions. The companies are already aligned in their commitment to sustainability and their ambition to lead the beauty packaging sector’s eco-transition.
Combination process
The official signing kickstarts a combination process that does not initially involve any changes in the operations of Quadpack or Texen, who will remain standalone entities. This allows the two companies to preserve their respective cultures, brand image and strengths, as they work towards building a stronger group. Subject to legal conditions, the transaction is expected to close in September/October 2024. Additional details can be found in the press release issued early today, which lays out the main terms and conditions of the transaction.
Growth plan
Long-term, a growth plan is on the table, which looks to take advantage of the synergistic values and complementary skillsets and facilities of the combined companies, with an emphasis on sustainable transformation. Quadpack Co-founder and Chairman Tim Eaves said: “We are delighted to enter this new stage in our history. This strategic alliance will enable us to grow through global customer access, an enlarged industrial footprint and increased innovation and partnership perspectives. As family-owned businesses, we share the same vision and have common values. Our long-term commitment to social and environmental sustainability and conscious approach to our activities will be the driving force of our success.”
For more information, please visit www.quadpack.com
For more information, please visit www.texen.com