Medmix, continuing its Asian expansion, has agreed to acquire a majority stake in Guangdong Qiaoyi Plastic Co., Ltd., a beauty manufacturing business in Shantou.
WHO: Based in Shantou, Guangdong Qiaoyi Plastic Co. has served the Chinese cosmetics packaging market since 1999 and has around 350 employees. They have a strong Chinese customer base producing local cosmetic brands that they service with a catalog that includes lipsticks, mascara, and eyeshadow packaging.
Switzerland-headquartered Medmix is a global leader in high-precision delivery devices for healthcare, consumer, and industrial end markets.
WHY: The acquisition aligns with the company's local growth strategy in China and positions Medmix as a player in the Chinese beauty sector. The deal will allow Medmix to leverage the deep market expertise of Qiaoyi as well as access the established local customer relationships to distribute GEKA applicators to local beauty brands.
IN THEIR OWN WORDS: Girts Cimermans, CEO of Medmix, said, "We continue to execute on our strategic local for local growth plan in China. China is the second largest Beauty and Personal Care market worldwide, expected to grow strongly over the coming years. With the acquisition of Qiaoyi we will benefit from this market growth, expand our customer reach and improve our access to native Chinese brands for our wider range of products."
According to a press release, "This will allow Medmix to leverage Qiaoyi's entrepreneurial spirit and deep market expertise, as well as access the established local customer relationships with its award winning GEKA applicators for local beauty brands."
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