THE WHAT? AptarGroup has announced that it has entered into a binding agreement to acquire Fusion Packaging.
THE DETAILS Terms of the transaction were not disclosed. Dallas-based Fusion has existing relationships with a number of Indie and global cosmetics and skin care brands and generated sales of US$80 million in 2019.
“This is the next step in our entrepreneurial growth journey and Aptar is the perfect fit for us,” said Derek Harvey, Fusion Co-Founder. “We see tremendous commercial synergies and are very excited about combining our core design and concept-to-launch expertise with Aptar’s global network and broad product portfolio.”
Added Fusion Co-Founder, Jonathan Gross, “Our culture is based on innovation, speed to market and flawless execution. Having Aptar’s resources will bolster our products and services, meeting the high demands of fast beauty.”
THE WHY? Stephan Tanda, Aptar President and CEO commented on the transaction, “We are very pleased to welcome the Fusion team to the Aptar family. This is a key step in our strategy to address market demands for fast beauty solutions with differentiated design and decorative offerings. We are strengthening our formidable portfolio by broadening our agile design and full-service beauty packaging capabilities. Fusion’s expertise in turnkey solutions is especially valuable to disruptive indie brands, as well as large established customers requiring expeditious launches. We believe the color cosmetics and skin care markets offer high growth potential, and Fusion has been growing at double-digit rates over the past few years. Our plan is to leverage Fusion’s market facing strengths in combination with our broad product and technology platforms. Fusion is an excellent complement to our current North American business, and there is great potential to scale this model in Europe and other regions.”