Since 2018 KDC/ONE has been owned by Cornell Capital; and as part of that relationship, the business has been growing swiftly by acquisition.
Last year the beauty maker made headlines here on CosmeticsDesign.com for acquiring both the French beauty manufacturer Alkos and Swallowfield’s manufacturing business in one month. Near the end of 2019, KDC/ONE bought up another beauty manufacturer, Benchmark Cosmetic Laboratories. And before the year was out, KDC/ONE announced plans to merge with HTC Group, a global full-service cosmetics product developer, manufacturer, packager.
KDC/ONE expands in to Asia
This latest deal, announced just today, will be the beauty maker’s first ownership of an Asia-based business. And according to the media release circulated by KDC/ONE, it shows the company’s “commitment to providing vertically integrated custom formulation and innovative manufacturing and packaging solutions to its customers in Asia and brand partners around the world.”
And that “around the world” aspect is as important here as the fact that Shanghai Paristy Daily Chemical Co., Ltd. is based in Asia. The Québec-based KDC/ONE now owns and operates over 15 facilities across North America, Europe, and Asia that provide beauty, personal care, and household clients with manufacturing services and packaging solutions.
“This is an exciting milestone for KDC/ONE as the Company establishes itself in Asia,” Joyce I-Yin Hsu, Partner and Head of Asia for Cornell Capital, tells the press. “We continue to see significant opportunity in the region and are confident that this acquisition will further enhance KDC/ONE’s platform for customers around the world. I am proud of our team in Asia, who has been instrumental in building the relationship between Paristy and KDC/ONE, and [I] look forward to all that is ahead for this fast-growing and innovative platform,” she says.
Henry Cornell, Founder and Senior Partner of Cornell Capital highlights Paristy’s expertise in the prestige makeup manufacturing space and the longevity of that business in his remarks about the acquisition: “We are pleased to welcome Paristy into the KDC/ONE family as our first wholly-owned Asia-Pacific manufacturing hub, enhancing our ability to serve the needs of our global prestige beauty clients and an increasingly diverse and global customer base.”
“With more than 50 years of history in Asia and with a shared commitment to bringing cutting edge innovation and high-quality manufacturing capabilities to its customers, Paristy,” he says, “is the ideal partner with which to expand KDC/ONE’s operational footprint in China.”
Paristy itself is a global beauty maker
Paristy is known for its color cosmetics manufacturing work in both the prestige and mass market segments. The company specializes in complexion products including pressed and loose powders and blushes and well as lipstick, mascara, eyeliner, and eyebrow products.
Jerome Shen, President of Paristy will move to the role of Managing Director once the KDC/ONE acquisition is complete, sees the deal as an opportunity for both his company’s clients and the KDC/ONE business.
“KDC/ONE’s track record of innovation and its dedication to delivering value added services to brands,” says Shen, “has set it apart in North America and Europe, and we look forward to the opportunity to play a key role in the expansion and growth of its presence in the Asia market.”
And he continues, saying, “We view this transaction as a positive for our team as we join the KDC/ONE group, and for our customers, who will benefit greatly from the broader platform this creates for our current technologies and manufacturing capabilities.”
Deanna Utroske is a leading voice in the cosmetics and personal care industry as well as in the indie beauty movement. As Editor of CosmeticsDesign.com, she writes daily news about the business of beauty in the Americas region and regularly produces video interviews with cosmetics, fragrance, personal care, and packaging experts as well as with indie brand founders.
Deanna will be speaking next at the Uplink Live event in LA this month (save 10% on tickets with code: CD10) and at Green Beauty Night in February.