The merger of the two beauty manufacturers and service providers is to create a one-stop shop for the industry that has a complete offer from packaging to other services.
A new beauty merge hits the cosmetics industry. The British beauty manufacturer Knowlton Development and the American HCT will merge with the aim of creating a vertical- integrated supplier for the industry, with product manufacturing to packaging. Terms of the deal were not disclosed.
KDC provides a range of services to beauty companies, including custom product formulations, and has grown through acquisitions over the past years. On the other hand, HCT also provides cosmetic services like packaging, filling and logistics to more than 400 brands worldwide.
“This transformative transaction will enhance how we serve beauty and personal-care brands around the world; our vertically integrated platform will offer the industry a true one-stop solution,” stated Nicolas Whitley, president and chief executive officer of KDC, in a press release.
Both beauty companies aim to create a one-stop shop for the industry
KDC, founded in 2002, has been backed by private equity firm Cornell Capital since 2018. The company has acquired brands like Benchmark Cosmetic Laboratories, last November, and Swallowfield, last July.
HCT is headquartered in Santa Monica, California and it was founded in 1992. The company is owned by the founder family and works with more than 400 customers worldwide like Avon, Estée Lauder and LVMH, amongst others.