The Norway-based company is further strengthening its position in the beauty packaging market after making a major commitment last year by buying the packaging firm Pastohm for an estimated $40m.
The cosmetics division of STE Packaging, which has annual sales of €4m, is the latest addition to the Polimoon portfolio.
The company, which has annual sales of approximately €750m, described the move as confirmation of its status as a key supplier and developer of personal care packaging.
Based in Barcelona, the purchased business unit boasts a 1,000 m2 warehouse along with injection and printing machines for the production of luxury jars, caps and systems.
Polimoon intends to use the new plant as a platform for the development of its business in Spain.
"We believe it is a great opportunity with this acquisition in Spain. It strengthens our position in the beauty market and it will be a base to expand our position in Spain," said Pierre Sabaiter, vice president western and southern Europe.
Coinciding with the acquisition was the announcement of a new airless bottle range for the beauty market.
The new collection offers bottles in a wide range of shapes and sizes, that all feature airless technology to help prevent formulation damage.
One of the new products on offer is the Duo Airless, which is a dispensing system that stores two formulas in one bottle.
The product contains two cylinders in one dispenser, allowing formulas to be mixed just before application.
As cosmetic formulas become more active and sensitive, delaying mixing until the moment before application is a sought after feature according to Polimoon.
