The New York-based company made the move after entering the market for cosmetics and fragrance packaging in February when it acquired Great Western Industries. Developing cosmetics packaging Buying Innovative Creative Packaging Solutions offers MPS complementary capacity and the opportunity to develop its range of print and packaging products for its customers in the cosmetics and healthcare industries. MPS will be able to take advantage of the acquired company's expertise in the development of folding cartons, promotional packaging and digital labels for health and beauty products. "Innovative Creative Packaging Solutions strongly complements our existing offering by expanding our manufacturing footprint to include a strategic presence in the Northeast for our healthcare and cosmetics clients," said Marc Shore, the CEO of MPS. The terms of the transaction were not disclosed. Green technologies In terms of its business strategy, MPS is targeting the growing trend for green packaging by using alternative materials and developing more eco-friendly manufacturing processes. MPS uses a number of green technologies that the company claims reduce waste and energy consumption, including its digital printing process that uses little or no water and lowers air emissions. The company also added that it is on the look out for new technologies and alternative materials that will sustain high standards but lower environmental impact. MPS is a portfolio company of Bear Stearns Merchant Banking that invests private equity capital in middle market companies. Apart from cosmetics and healthcare, MPS also operates in the markets for horticultural and media packaging and printing.