Investment company Investindustrial agreed to acquire a 51% stake in Virospack, a Spanish manufacturer of cosmetics droppers.
WHO: Founded in 1956, Barcelona-based Virospack claims to be the largest manufacturer globally of droppers for skincare, hair, nails, and liquid makeup. The company manufactures over 120 million droppers, spatulas, and more than 20 million bottles annually, and employs almost 400 people. In the past 10 years, Virospack has invested €60 million to build manufacturing capacity of 21,000 square meters (226,000 square feet) in a Barcelona complex. Virospack plans to increase its manufacturing area by more than 50% over the next three years.
Investindustrial is a leading European group of independently managed investment, holding, and advisory companies with €13 billion of raised fund capital. With ESG principles deeply embedded into the firm’s core approach, Investindustrial has an over 33-year history of providing mid-market companies capital, industrial expertise, operational focus, and global platforms to accelerate sustainable value creation and international expansion.
WHY: This transaction builds on Investindustrial Group’s strong track record in the specialty packaging sector following its investment in Guala Closures, a manufacturer of aluminum and non-refillable high-end closures for the beverage industry. Virospack is the second investment from the Growth III fund, focused on majority buyouts of lower mid-market companies, which announced a final closing at €1.1 billion, above its target, in May 2023.
IN THEIR OWN WORDS: Andrea C. Bonomi, Chairman of the Industrial Advisory Board at Investindustrial, commented, “Virospack is unquestionably a market leader, renowned for the quality of its products and the strength of its relationships with its highly regarded global leading cosmetics clients. We have been impressed by the team and its operations and are excited about Virospack’s growth potential in the coming years. We are really looking forward to working with the Rodriguez family and the wider management team to continue Virospack’s growth.”
“Investindustrial’s investment in Virospack is part of a strategy to invest a relevant amount of the Firm’s latest €1.1 billion growth fund—raised earlier this year—in Iberian companies to support their growth and, in particular, to accelerate their globalisation. With this acquisition, Investindustrial continues to invest in Spain, a country of importance for our portfolio and future investment strategy,” adds Bonomi.
Vicens Rodriguez, Executive Chairman of Virospack, added, “I am extremely proud of the three generations of the Rodriguez family who originally founded Virospack in the 1950s and have subsequently continued to run the business and everything that our best-in-class team has achieved. I am delighted to partner with Investindustrial who is investing in our business to create further opportunities for expansion and to provide the right level of support to help us achieve further growth. Investindustrial has an excellent reputation for its stewardship and its ability to help companies scale and internationalise, and I am excited about working with them.”
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