ICONS Beauty Group (“ICONS”) a cosmetic, beauty and health group of companies, and a ShawKwei & Partners portfolio company, announces the 100% acquisition of CTL Packaging USA, Inc. (“CTL”). CTL will now operate as ICONS America LLC
The facility specialises in the production of injection molded tubes using In-Molded Label (“IML”) technology for the beauty and health industry, providing high-quality decorative capabilities and luxury finishing.
Based in Charlotte, North Carolina, CTL was founded in 2011 as part of CTLpack Group S.L.U., a long-standing Spanish tube manufacturer for beauty and health products. The facility will merge into ICONS Beauty Group, which is headquartered in Singapore, to broaden its capabilities with made-in-USA quality products. ICONS has an over 30-year history of providing beauty and health customers with quality packaging products such as tubes, bottles, jars and accessories.
Recently, ICONS has started production of sustainable rigid packaging products from its group factory in Thailand bringing more diversity to the supply chain. In addition, ICONS has a factory in Sydney, Australia producing natural and innovative hair treatments, personal care and skincare for specialty brands in Australia, USA and Europe.
Sue Nichols, the CEO of ICONS Group, said, “CTL has an experienced management team with well-established technology and proven products already in the market. We welcome CTL to the ICONS family as ICONS America LLC.
The acquisition provides customers with a USA onshore manufacturing solution which reduces the carbon footprint by manufacturing close to their customers and shortening the shipment delivery lead time. We look forward to delivering a broad selection of innovative and cost-efficient quality products to our customers.”
Kyle Shaw, Founder and Managing Partner of ShawKwei said, " The beauty and health industry has a complex value chain, and the combination of CTL with ICONS provides USA customers with greater flexibility to optimise their supply chain and accelerate time-to-market for new products.
ICONS already has a well-developed beauty and health packaging business in Asia and an Australian manufacturer of hair treatments, personal care and skincare. ICONS Beauty Group will leverage their current capabilities together with ICONS America LLC manufacturing operationsto expand ICONS packaging products and capabilities.”