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Beauty Industry, Mergers and Acquisitions

CITIC Capital Completes Axilone Acquisition

CITIC cites ‘remarkable growth potential in the premium beauty care packaging sector’

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By: Jamie Matusow

Editor-in-Chief

CITIC Capital China Partners III, L.P., a buyout fund managed by the private equity arm of CITIC Capital Holdings Limited, has announced it has completed the acquisition of Axilone from Oaktree Capital Management, L.P. on January 10, 2018.
 
Headquartered in Paris, Axilone is a global provider of primary plastic and metal packaging solutions for premium lipstick, fragrance, and skincare sectors. The supplier serves leading beauty and personal care companies around the globe, and has subsidiaries in France, Spain, U.S. and China. It also has manufacturing facilities in France, Spain and China, and has enjoyed robust growth during the past few years.
 
Hanxi Zhao, senior managing director of CITIC Capital, commented: “We see remarkable growth potential in the premium beauty care packaging sector, as global beauty players compete to communicate their brands and differentiate themselves from their peers.”
 
Laurent Chevallier, CEO of Axilone, said: “Axilone has a very strong foundation. The whole management team is very excited and committed to working with CITIC Capital, and we are confident that through continued geographic expansion and product category expansion in the next few years, we can take the success to the next level. “
 

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