Ascendiant Capital Markets has announced the sale of its cosmetic manufacturing company Cosmetic Technologies to Knowlton Development Corporation.
The acquisition of Cosmetic Technologies, a leading beauty and personal care products contract manufacturer based in California, signals the first West Coast acquisition of KDC, a rapidly growing company that reports sales in excess of $650 million, with eight operating facilities.
Nicholas Whitley, president and chief executive officer of KDC, said, “With the acquisition of Cosmetic Technologies, we are able to expand our manufacturing capabilities to the west coast and serve our clients there on a local basis.”
The sale will see KDC expand to 2,500 employees throughout the US and Canada. The company has spent more than $100 million on development and acquistions, including the purchase of Kolmar Labs Group earlier this month.