THE WHAT? Knowlton Development Corporation (KDC/ONE) and HCT Group have merged to create a comprehensive global end-to-end solutions provider for the beauty and personal care industry.
THE DETAILS Entering into a definitive partnership, KDC/One, a value-added partner to beauty, health and personal care brands, and HCT Group, which delivers full-service solutions in the design, engineering, manufacturing, formulation, filling and logistics of cosmetics products, will join forces to offer a ‘global one-stop solution’ for customers.
Nicholas Whitley, President and CEO of KDC/ONE, and Tim Thorpe, President and CEO of HCT, will continue as CEOs of each business respectively following closure of the deal.
Thorpe stated, “KDC/ONE and HCT have highly complementary
business models and together will offer a unique solution to our world-class
THE WHY? The partnership is hoped to allow both companies to capitalize on each other’s success across the industry as well as foster ‘growth opportunities.’
Thorpe continued, “The transaction will enable us to leverage adjacent customer relationships, geographic footprints and products. On behalf of my family and the entire company, I’m proud of all that we have accomplished and look forward to exploring synergies across both businesses for the benefit of customers and employees.”