Bain Capital is selling WWP Beauty's Chinese operations to packaging manufacturer Ampac Ltd. and winding down the rest of the business.

WHO: WWP Beauty provides a full-service offering of mindful turnkey formulations, eco-smart packaging designs, and accessories. The company has in-house manufacturing and an integrated network that spans North America, EMEA, and APAC, offering global support at the local level.

Bain Capital is one of the world’s leading private investment firms with approximately $175 billion in assets under management. Founded in 1984, they pioneered a consulting-based approach to private equity investing. The firm acquired brand incubator Maesa in 2019.

IN THEIR OWN WORDS: Beauty Independent reported that Ashok Ramadoss, Global VP of Finance at WWP Beauty, said, “After exploring all other options, the decision has been made for WWP to cease accepting customer orders and to commence an orderly wind down of remaining operations that were not included in the sale. The company continues to work with its valued customers and suppliers to complete open sales orders with delivery dates through July 31st.”

DETAILS: 

• Packaging manufacturer Ampac Ltd. acquired WWP Beauty's Chinese operations from Bain Capital. The terms of the deal were not disclosed. 
• Bain Capital is winding down the rest of WWP Beauty's operations. 
• Post-transaction, Ampac will do business as WWP Beauty. 
• WWP Beauty’s Chinese manufacturing operations represented more than 90% of the packaging and formulation workforce.
• In 2020, the company landed a licensing agreement with the scent innovation start-up Scentinvent Technologies for a solid fragrance format.
• In 2019, WWP Beauty acquired Cosmetic Design Group and Design Quest, both based in the Los Angeles area, to diversify its turnkey offering. 
• Bain Capital Private Equity acquired WWP in 2018 and merged it with a Chinese cosmetics packaging manufacturer.