Cornell Capital-owned Knowlton Development Corporation ((KDC/ONE) has announced the acquisition of France-based cosmetics manufacturer ALKOS Group.
Financial details of the deal were not disclosed, however, the purchase is hoped to boost Knowlton’s global expansion plans through the expertise of ALKOS Group. The French manufacturer is made up of INTER Cosmétiques, SAGAL Cosmétiques and ALKOS Cosmétiques and serves global brands with makeup, skincare, cosmetic pencils, perfumed deo sticks and soaps products.
Gérard Gieux, Founding Owner of ALKOS Group said, “With KDC/ONE, the ALKOS Group will have access to the capital needed to continue making essential investments in its business and its products, solidifying its leading market position. The ALKOS Group is excited to enter new markets and continue to deliver quality products to new and existing customers alongside a trusted partner that shares similar values to ensure the sustainability and long-term growth of ALKOS Group.”
Nicholas Whitley, President and CEO of KDC/ONE, continued,
“ALKOS Group has deep roots in the cosmetics sector, an excellent reputation
for product quality and innovation, and a customer-focused vision that will
provide KDC/ONE with strategic access to the European market and unique
technologies that reinforces our position as a leader in prestige beauty.
“We look forward to working with the team at ALKOS, as well as our partners at Cornell Capital, to leverage the full product portfolio and further diversify our customer base to capitalize on a number of cross-selling opportunities and deliver tangible benefits to all of our stakeholders.”