Company to be merged with Chinese cosmetics packaging manufacturer to form fully integrated solutions provider
Hong Kong – Bain Capital Private Equity today announced the acquisition of World Wide Packaging LLC, a leading provider of cosmetic packaging components, plastic tubes, and formulation/filling technologies.
Simultaneous with Bain Capital’s purchase of World Wide Packaging, the firm has agreed to purchase a Chinese cosmetics packaging manufacturer and plans to merge the two companies to form a fully integrated solutions provider. Bringing together World Wide Packaging’s strong design capabilities, rich library and fast turnaround times, with reliable manufacturing capabilities in China, the combined entity will be well-placed to provide innovative solutions to beauty brands in the US and beyond.
Established in 1980, World Wide Packaging provides the cosmetics and personal care industries with a complete range of packaging components, custom and stock molding, and full service turnkey operations. With dedicated component- and tube-manufacturing facilities, offices on the east and west coasts of the United States as well as in Suzhou, China, and a global sales team, World Wide Packaging has focused on vertical integration in its industry for many years. The company has a proven history of developing cutting-edge, problem-solving packaging solutions for a wide range of beauty brands including Estee Lauder, L’Oreal, Shiseido, Dermalogica and Milk Makeup.
“Having enjoyed more than four decades of uninterrupted growth, World Wide Packaging is excited about Bain Capital’s investment in our future growth,” said Barry Freda, CEO. “World Wide Packaging looks forward to bringing our high quality, award-winning packaging innovations, and speed to market to more companies across the globe.” The senior management team at World Wide Packaging will remain in place, with CEO Barry Freda continuing to lead WWP in this new venture.
Bain Capital Private Equity’s proven operational expertise and ability to leverage a fully integrated global team presents a significant advantage for companies looking to identify and execute opportunities on a global scale and to tap into Asia’s high growth markets. The firm has extensive experience in consumer industries having invested in companies like Carver Korea, Canada Goose, and Blue Nile, among many others. It also has experience merging the operations of two companies, both in the US and across multiple regions.
Jonathan Zhu, a Managing Director at Bain Capital Private Equity, said: “With this deal, the combined entity will have a customer-facing function primarily in the US, and manufacturing, sales and marketing operations in China. We look 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.”