April 2020 SPRAY 31
Mergers & Acquistions
Ball Corp. is acquiring Tubex Industria E Comercio de Embalagens
Ltda, an aluminum aerosol packaging business with a plant near
São Paolo, Brazil, for $80 million. The plant includes eight extruded
aluminum aerosol can lines for personal care customers worldwide.
It employs approximately 300 people. The plant will become part of
Ball’s aluminum aerosol packaging division, and will complement
Ball’s global aluminum aerosol and slug business in Europe, North
America and Asia, the company said.
AptarGroup, Inc. has
acquired FusionPKG for an
undisclosed sum. Fusion-
PKG’s turnkey airless and
color cosmetics packages are
expected to provide synergies
in commerce and design, as
well as grow Aptar’s Beauty +
Home unit. FusionPKG has
100 employees in Texas, New York, California and China and experienced
sales of approximately $80 million in 2019.
L Brands Inc. has sold a 55% stake in Victoria’s Secret to
investment firm Sycamore Partners for $1.1 billion.
L Brands publicly stated it will now focus on its core Bath
& Body Works (BBW) brand, which will be run as a
stand-alone company. L Brands will retain a 45% stake in
Victoria’s Secret. L Brands CEO Leslie Wexner, who has
led the company since 1963, has stepped down to become
Chairman Emeritus; BBW COO Andrew Meslow was
tapped as CEO and has joined BBW’s Board of Directors. Three
other directors will reportedly be replaced. Edward Razek, L Brands’
Chief Marketing Officer, has resigned.
Perrigo Co. plc is acquiring the oral care business
of High Ridge Brands Co.; an affiliate of Tengram
Capital Partners is purchasing High Ridge Brands’
hair care and skin cleansing business. The terms of
the deals amount to $120.5 million in cash. The
transactions were expected to close in the first quarter
of 2020. The transfer of these businesses is expected
to span at least 12 months, High Ridge Brands said.
B’laster Corp. has acquired Workshop
Hero, the manufacturer
and distributor of Metal Rescue
products and began production
of the products, at its Valley View,
OH plant in late February. Terms
of the deal were not disclosed.
Workshop Hero was formerly part of Armor Protective Packaging,
Howell, MI.
Knowlton Development Corp. (kdc/one) has acquired Zobele
Group, an Italian home and air care product maker, for an undisclosed
sum. In other news, kdc/one has purchased Cosmetic Laboratories
of America (CLA) of Chatsworth, CA, for an undisclosed sum.
CLA formulates, develops and supplies skin care, hair care and color
cosmetics for emerging indie brands.