The firm announced in a statement that it will follow its acquisition of World Wide Packaging with the purchase of an unnamed packaging firm in China, and intends to integrate the two companies to form a “fully integrated solutions provider.”
“Having enjoyed more than four decades of uninterrupted growth, World Wide Packaging is excited about Bain Capital’s investment in our future growth,” said WWP’s CEO Barry Freda, who will remain in the post following the investment, alongside the rest of the senior management team.
“World Wide Packaging looks forward to bringing our high quality, award-winning packaging innovations, and speed to market to more companies across the globe,” adds Freda.
The US and beyond
Founded in 1980, WWP’s clients include major beauty and personal care players Estée Lauder, L’Oreal, Shiseido, and Dermalogica.
According to Bain Capital, the planned merger will bring together the packager’s strong design capabilities, rich library, and fast turnaround times with the reliable manufacturing capabilities available in China, providing innovative solutions to beauty brands in the US and beyond.
Asia’s high growth markets
Bain Capital Private Equity has a strong track record of tapping Asia’s high growth markets. The firm has invested across consumer industries, with companies including Carver Korea, Canada Goose, and Blue Nile. It also has experience merging the operations of two companies, in both the US and across multiple regions.
Jonathan Zhu, a managing director at Bain Capital Private Equity, says, “With this deal, the combined entity will have a customer-facing function primarily in the US, and manufacturing, sales and marketing operations in China.”
According to Zhu, the firm is also looking to preserve and enhance its presence in the independent beauty market and grow its presence among large beauty players, in the US and beyond, particularly in China, where demand for cosmetics is growing three times as fast as in the US.