The aerosol and liquid products manufacturer concentrates on the personal care, beauty, health care and homecare markets, and will be joining forces with Provider, a Brazilian manufacturer of personal care and homecare products.
The new venture will be called CPA and ColepCCL will hold a 51 per cent share, while Provider will hold the remaining 49 per cent.
One of the Provider Group’s shareholders Fabio Zalaquett will be the CEO of the new company, which will operate out of a new factory in Itatiba, 70 km from Sao Paulo.
According to ColepCCL, the new venture allows it to expand into the Latin American market, servicing existing customers in the region as well as finding new business.
“This venture gives us the opportunity to offer high quality, robust, sustainable aerosol solutions to the Latin American market. Furthermore, we will use our joint market knowledge, and innovative approach to immediately create new products and solutions for our customers,” said ColepCCL’s CEO Vitor Neves.
‘Tremendous’ growth opportunities
Brazil was chosen for its tremendous growth opportunities, a ColepCCL spokesperson explained.
“The main reason [for choosing Brazil] is the status of the country, it is one of the fastest growing developing countries in the world. It has tremendous growth potential,” the spokesperson told CosmeticsDesign-Europe.com.
In addition, the spokesperson highlighted the increasing affluence of consumers in the country who are able to spend their growing incomes on personal care and cosmetics products.
According to ColepCCL, the factory will be up and running during the first quarter of 2011.