Quadpack Industries (Euronext Growth: ALQP) and PSB Industries (a private company) have formalised their plan to merge Quadpack and Texen, PSB's main subsidiary, into a single group, bringing the two beauty packaging manufacturers and suppliers under the umbrella of PSB Industries. The group will rank among the top five cosmetics packaging companies in the world, with combined sales of approximately ¤350 million, more than 2,000 employees, an industrial presence in six countries and commercial and operating operations in Asia, Europe and the Americas.
François-Xavier Entremont, President and CEO of PSB Industries, said: ‘There is an extraordinary synergy between the companies, particularly in the values we share. With passionate and committed teams, a comprehensive service offering, global geographic coverage and significant size, the new group will be able to accelerate the development of its combined expertise and commitment to eco-design, and thus be in a stronger position to serve the beauty market, its brands and its consumers. With this transaction, we will consolidate our position as a leading player in the transformation of materials and packaging for the make-up, cosmetics and fragrance markets.’
An adjust perfect
The complementary nature of the two companies, when merged, will allow them to offer an enhanced service to beauty brands, with an even more complete value proposition. Headquartered in Brion, France, Texen creates customised packaging solutions for the make-up and luxury fragrance markets from its multiple factories located in France, Poland, Mexico and the US. Headquartered in Barcelona, Spain, Quadpack provides standard packaging solutions for the mass-market prestige make-up and cosmetics market. It complements its factories in Germany and Spain with an extensive sales network in Europe, the United States and Australia.
Together, Texen and Quadpack aim to reach new territories, new market segments and a wider customer base, with a comprehensive, creative and sustainable product offering, from ready-to-use ranges to bespoke solutions. The companies are already aligned in their commitment to sustainability and their ambition to lead the green transition in the beauty packaging sector.
Combination process
The official signing marks the start of a combination process that initially involves no change to the operation of either Quadpack or Texen, which will remain independent entities. This allows both companies to maintain their respective cultures, brand image and strengths while working to build a more robust group. Subject to legal conditions, the transaction is expected to close in September/October 2024. Further details can be found in the press release distributed this morning, which sets out the key terms and conditions of the transaction.
Growth plan
A long-term growth plan is envisaged, which aims to leverage the synergistic values and complementary skills and infrastructure of the merged companies, with an emphasis on sustainable transformation. Tim Eaves, co-founder and chairman of Quadpack, said: ‘We are delighted to begin this new phase in our history. This strategic alliance will allow us to grow through global customer access, an increased industrial footprint and greater prospects for innovation and working together. As family-owned companies, we share the same vision and have common values. Our long-term commitment to social and environmental sustainability and a conscious approach to our activities will be the driving force behind our success.'