The sale of Rexam Personal Care to Albéa owner Sun Capital Partners has been approved by the Chinese authorities for $459 million (€347m), allowing the French packaging company to expand its market share in cosmetics.
The news was originally announced last year when a Cosmetics Design exclusive revealed that Albéa was looking to expand its portfolio and global footprint with the move.
The combined businesses will build on both companies’ market position and create a leading packaging group with a global platform.
“The new platform would give significant opportunities to deliver extended customer solutions. Customers would benefit from the complementary market knowledge, the innovation capabilities and the technical know-how,” an Albéa spokesperson told CosmeticsDesign-Europe.com.