Luxury Cosmetic Solutions Investments, a subsidiary of Investindustrial Growth, has bought Eurovetrocap.
The deal marks the latest in a spate of mergers and acquisitions focused on beauty packaging players.
Italy-based Eurovetrocap’s founders – the Cattaneo family – will retain a minority stake in the cosmetics packaging company and the existing management team will remain in place.
The acquisition makes Luxury Cosmetic Solutions Investments, which also owns Spanish droppers manufacturer Virospack, one of Europe’s leading cosmetics packaging groups.
“This strategic partnership significantly enhances our position in the sector, creating a well-diversified and balanced group,” said Andrea C Bonomi, Chairman of Investindustrial’s Advisory Board.
“By leveraging the combined strengths of both Virospack and Eurovetrocap, they will expand the market reach, strengthen relationships with leading beauty brands, and unlock new avenues for innovation and cross-selling.”
Founded in 1983, Eurovetrocap specialises in the development, finishing and distribution of glass, plastic and aluminium primary packaging for the skin care, make-up and pharmaceuticals markets.
Its customer base primarily comprises small and independent brands.
The Trezzano sul Naviglio-headquartered firm employs 140 people and produces more than 280 million units annually.
Jointly with Virospack, Eurovetrocap will form a cosmetics packaging platform with €120m of combined revenue, boasting almost 500 employees.
The partnership is also expected to unlock cross-selling and joint product development opportunities around Eruvetrocap’s expertise in pumps, moulded glass and mould manufacturing.
Several big names in beauty packaging have either attracted new ownership, or pooled their resources in recent months.
Weinberg Capital Partners announced it would become the majority shareholder of the cosmetic applicators, brushes and accessories maker Cosmogen in December 2024.
This followed the news that packaging giants Amcor and Berry Global Group had entered into a merger agreement.
In July, meanwhile, Barcelona’s Quadpack Industries announced it would merge with Texen owner PSB Industries to form a single group.
