European Partners, LLP announced on Jan. 2 that one of its affiliates has entered into exclusive negotiations to sell Albéa, a global leader in the BPC packaging industry, to Funds advised by PAI Partners.The proposed transaction is subject to customary regulatory approvals.
Albéa provides a wide range of packaging solutions for the make-up, fragrance, skincare, personal and oral care markets. The company’s product portfolio includes spray-caps, plastic and laminate tubes, mascaras, lipsticks, lip glosses, compacts, plastic closures and shells, jars, lids, cosmetic accessories, bags and promotional items. Albéa boasts 38 manufacturing sites in Europe, Americas and Asia, with global headquarters based in Paris.
Albéa was acquired by an affiliate of Sun European Partners in 2010. Jerome Nomme, Managing Director of Sun European Partners, commented: “We are pleased with the transformation of the company under Sun’s stewardship during a period which has seen an improvement in the financial performance of the company, its operational efficiency and the range of products it offers. We thank the management at Albéa and wish them continued success under new ownership.”
François Luscan, CEO of Albéa, commented: “We are excited for this new chapter in Albéa’s 60-year history. Sun has been an outstanding shareholder for the past seven years, continuously supporting our business development. We are looking forward to working with our new shareholder as we consolidate our position as the leading provider of solutions to the world’s most prestigious and most dynamic brands, building from our unique combination of customer-focus, operating excellence, large