Monogram Capital Partners–backed Prime Matter Labs has acquired Torrance, CA-based Cosmetic Development Laboratories (CDL) and will become Prime Matter Labs West.
WHO: Founded in 2002, Cosmetic Development Laboratories has an 80,000-square-foot facility in Southern California. The full-service laboratory provides custom formulating and contract manufacturing and an extensive library of private-label formulations.
Founded by Mohamed Barakat, Frank Linares, and Mark Barakat, Prime Matter Labs is a leading contract manufacturer of beauty and personal care products producing skin, sun, hair, and body care recognized by brand leaders being best-in-class for its efficiency and formula innovation. Its chemists have developed thousands of formulations across every personal care category.
WHY: The deal will increase Prime Matter Labs' geographic coverage in North America, production capacity, and operations, while also setting the stage for greater use of innovative technologies.
IN THEIR OWN WORDS: "Prime Matter Labs is focused on being the leading product development and production partner in the country for indie, emerging and established beauty and personal care brands," said Mohamed Barakat, founder and CEO of Prime Matter Labs. "As part of realizing that mission, expanding our operations to Southern California extends our reach, doubling our manufacturing footprint to nearly 200,000 square feet, and helps even more customers realize their goals, grow their businesses, and achieve success."
As a leader in personal care contract manufacturing, we feel it's important to have a physical presence on the West Coast," Barakat explained. "California is a hotbed of activity for new products with sustainable innovations, a key growth driver in our sector. It also has a strong labor market and provides supply chain flexibility for our customers.
Prime Matter Labs shares our passion for bringing customers' great ideas to life," said Joseph Peri, CDL's CEO. "Mohamed and his team saw that we are as focused on product quality as they were. We are confident that they will do great work in the months and years ahead.
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