Paris-based Anjac Health & Beauty, which specialises in formulation, manufacturing and packaging of cosmetics, has acquired the French luxury fragrance, fillings and high-end packing and finishing company, Stephid.
Anjac said the move would “consolidate its footprint in the luxury markets and high added-value services,” as Stephid is recognised by the leading names in luxury perfumery and would therefore strengthen its offering for fragrance brands.
"Stephid is recognised by major French and international brands for its unique know-how, responsiveness, and outstanding logistics services,” said President of Anjac Group, Aurélien Chaufour.
“This merger will enable us to offer our premium and luxury customers complementary expertise to support the development of their cosmetics and perfume ranges."
While Stephid’s CEO Yannick Demoulin stated that he believed joining Anjac would support the company’s growth.
"Being backed by a solid group with a high production capacity and a complementary customer portfolio, whose values of innovation, quality and sustainability we share will be key to our success,” he said.
“Anjac Group shares both our moral and social values, which naturally led us to this choice."
Tapping the dynamic luxury fragrance market
This new acquisition expands the Group's offering in the dynamic fragrance market, in which consumers are currently showing a trend for seeking out ultra-premium brands and niche fragrances, as the market propels towards offering more personalisation and hyper-segmentation.
Stephid, which was founded in 1989 and is based in Pont-Sainte-Maxence (Oise), currently partners with more than 60 well-known fragrance brands.
The business has expertise in small production runs and luxury products that are reminiscent of craftsmanship and tailoring and forecasts that it will achieve a double-digit turnover growth of almost €15m by the end of 2023.
It already benefits from its strong relationships with luxury fragrance houses and designers, which it attributes to "mastery of fragrance manufacture and cutting-edge techniques that are essential to preserving the most precious top notes."
Turnover approaching €700m
Anjac Group also said that Stephic has the know-how to package bottles and assemble elegant packaging and accessories using very precise manual skills and that the teams are recognised for their global distribution expertise of finished goods from every aspect of the logistical value chain.
Stephid is Anjac Group’s 10th acquisition within the span of six years. In 2019 it acquired Cosmetix West and Feltor, Roval Cosmétiques in 2020, and Apollo and Pillar5 in 2022.
The business now includes 15 companies – with 22 R&D and manufacturing sites – and said that its turnover is approaching €700m.
Anjac will benefit from Stephid’s expertise in high-end manufacturing, packaging and kitting, with high-end, bespoke services to expand its offering and will be able to supply customers with additional expertise.
While Stephid will be able to expand its investment and production capacity and meet growing customer demand.
The company said that Stephid’s management team and governance will remain in place.