HCP acquires Rusi Cosmetics to expand in European packaging market
The acquisition was made on the back of support from HCP’s controlling shareholder Baring Private Equity Asia, a Hong Kong-based private equity firm that has invested in over 70 wide ranging business since its inception in 1997.
The deal means that Rusi’s manufacturing operations in Europe will now form HCP’s core manufacturing base in that region, while the business’s commercial and operations functions will be fully integrated into the HCP business.
Enhancing European manufacturing
While HCP has acquired a 100% stake in the Rusi business, the only management change will be that Rus’s president will now report to HCP’s CEO., while no further disruption to the Rusi business is envisaged.
HCP is a global entity, with operations throughout the Americas, Asia Pacific and Europe, that specializes in a range of packaging portfolios that includes a particularly wide range of colour cosmetic products, together with a broad selection of bottles and jars.
Rusi also specialize in colour cosmetics packaging, which is where the two businesses are hoping to forge significant synergies. It is headquartered in Bechhofen, Germany, from where it has developed a deep customer base stretching throughout Europe.
No. 1 in mascaras
“HCP values the wide range of product category expertise that Rusi possesses which we intend to build on by investing in a significant plant expansion to better support our customers’ regional sourcing objectives in Europe," said Eddy Wu, HCP CEO.
“In addition, with both SIMP and Rusi under one umbrella, HCP can offer very compelling full-pack mascara solutions locally.”
The acquisition also forms part of HCP’s broader business objective to become the world’s leading mascara solution provider, while also providing more regionally-localised manufacturing for each of its three main markets.
