The company will simultaneously purchase a Chinese cosmetics packaging manufacturer, with the intention of merging the companies to form fully integrated solutions. CEO Barry Freda will continue to lead the organization into the new venture.
World Wide Packaging provides the cosmetics and personal care industries with packaging components, custom and stock molding, and full service turnkey operations. Among its clients are brands including Estee Lauder, L’Oreal, Shiseido, Dermalogica and Milk Makeup.
Bain Capital wants to enhance its presence in the global beauty market
Barry A. Freda said that Bain Capital Had enjoyed more than four decades of uninterrupted growth, World Wide Packaging is excited about Bain Capital’s investment in their future growth. World Wide Packaging looks forward to bringing their high quality, award-winning packaging innovations, and speed to market to more companies across the globe.
Managing director at Bain Capital Private Equity, Jonathan Zhu said that with this deal, the combined entity will have a customer-facing function primarily in the US, and manufacturing, sales and marketing operations in China. They are looking forward to working with World Wide Packaging to preserve and enhance its presence in the independent beauty market and grow its presence among large beauty players, in the US and beyond, particularly in China, where demand for cosmetics is growing three times as fast as the US.