Cosmetics packaging company Aptar has announced the acquisition of a 49 percent minority stake in three related Chinese BTY companies; Suzhou Hsing Kwang, Suqian Hsing Kwang and Suzhou BTY – together referred to as BTY.

The acquisition of BTY, which produces metal components, metal-plastic subassemblies and color packaging solutions for the cosmetics industry, is said to bring ‘complementary and distinctive capabilities’ to Aptar.

Looking to capitalize on growth potential in the Asian color cosmetics market, the new company will bring to the table high speed stamping and anodization, metal and plastic decoration and differentiated lipstick masstige mechanism design and manufacturing.

Stephan Tanda, Aptar President and CEO, said, “We are committed to growing our business in Asia and to creating an even stronger local presence in this region. This strategic equity investment better positions us in the high-growth Asian color cosmetics market and we look forward to leveraging our expansive portfolio of dispensing technologies, along with our global scale, to build upon BTY’s success in this market. This transaction meets our disciplined investment approach of acquiring leading, recognized players with innovative technologies and know-how, and includes an option to raise our stake in future years. We look forward to welcoming BTY to the Aptar family.”

Financial details of the deal will be disclosed on completion of the transaction, which is expected by the end of 2019 subject to regulatory approvals.