Conair buys cosmetic travel bag specialist Allegro
acquisition of cosmetic travel bag specialist Allegro.
Conair plans to use its own brands to market some of Allegro's newly designed bags, which means that some of the acquired firm's cosmetic travel bags may be sold under different names. Conair has annual sales of $2bn and a product range that stretches from shampoo to cookware. In a statement the company described the takeover as being indicative of its commitment to cross-category growth. "This new relationship lets both Conair and Allegro serve our customers better with improved product selection," said Conair CEO Ron Diamond. Allegro is a leading global supplier of cosmetic bags, but has expanded into bath products and other accessory bags in recent years. Under Conair's arm, Allegro will have more resources at its fingertips and intends to use them to develop new product lines. "Joining Conair is a great opportunity for us to grow at a faster pace than we could have on our own," said Allegro president Scott Friedman. The market for cosmetic bags has undergone a period of fast paced change in recent months with companies seeking to adapt to tough new airport security measures. In the US, all products bought outside airport terminals must be carried in clear zip-top plastic bags - a rule that has led to openings for fast moving packaging companies.