Oxygen Development, a US-based private label provider of colour cosmetics, skin care and hair care products, has acquired a majority share in Germany-based Care_Full Colours Kosmetik Produktions, also a private label manufacturer.
The acquisition aims to enable Oxygen Development to expand its offering in Europe with the added benefit of local production of nearly all of its existing product lines. At present, Oxygen Development supplies the US, European and Latin American markets, but the new investment will help to streamline its business operations.
At the same time as the acquisition news, Oxygen Development announced the appointment of Stefano Castelletti as Managing Director of Care_Full Colours. As part of his role, he will oversee marketing and sales globally.
Oxygen Development currently employs more than 650 employees and is headquartered in West Palm Beach, Florida. Care_Full Colours was founded approximately 40 years ago by Cosmolab, US. Its presence in Europe has grown as a result of a change in hands; today, Care_Full Colours is owned by Kurt Pilchowski.