CITIC Capital in talks to acquire Axilone

The investment management and advisory company, which strives to “c​ombine a deep knowledge of the Chinese business and financial markets with world-class investment expertise to create and maximise value for its investors”,​ hopes to enter into a procurement agreement with funds managed by Oaktree Capital Management.

Acquisition plans​

Following these conversations, CITIC Capital China Partners, a buyout fund managed by the private equity arm of CITIC Capital Holdings, aims to acquire high-end packaging provider to the beauty care industry, Axilone.

Headquartered in Paris, Axilone designs and manufactures premium plastic and metal packaging for leading global cosmetics, perfume and beauty care brands and customers.

Lipstick spike​

The company, which is part of the Ileos Group, focuses on the luxury lipstick, fragrance and skin care sectors.

Axilone is focusing on the premium lipstick sphere in particular as the packager has ramped up its activities in the beauty and personal care industry. The company has achieved this growth through its China-based production plant, along with its manufacturing facilities in France and Spain.

Working together​

“Axilone is a leading player in the beauty care packaging sector, serving leading customers globally with unparalleled product quality and service,”​ stated Hanxi Zhao, Senior Managing Director of CITIC Capital.

“We are committed to working with the talented management team to continue to tap into the enormous potential in the space, and take their success to the next level globally,”​ added Zhao.

Commenting on the potential upcoming partnership, Jean Rollier, Managing Director of Oaktree and President and CEO of Ileos Group, stated: “Axilone has enjoyed strong growth during Oaktree’s holding period, and we believe the company is well positioned to continue its trajectory to enhance its leadership in the beauty care packaging category.” ​