Charles Sternberg, Assistant Editor02.26.21
Verescence, an expert in luxury glass packaging for the Perfumery and Cosmetics industries, has acquired a majority stake in Pacificglas, a Korean leader for glass packaging in Cosmetics industries and a long-term partner of Amorepacific.
Verescence produces 500 million bottles per year in its three glass production sites and its four decoration sites in Europe and North America. In 2019, the company employed 2,300 people worldwide and achieved sales revenue of 309 million euros.
“We are delighted with the acquisition of a majority stake in Pacificglas and the long-term partnership with Amorepacific. This is a major step in our Strategic Plan, Verescence 2022. Amorepacific will become a top customer of Verescence group and with Pacificglas, Verescence will reinforce its leadership in high-end Perfumery & Cosmetic glass packaging. From this strong base Verescence plans to become a pan-Asian leader and will invest in technology and capacity to meet growing demand of high-end glass,” said Thomas Riou, CEO of Verescence.
Verescence produces 500 million bottles per year in its three glass production sites and its four decoration sites in Europe and North America. In 2019, the company employed 2,300 people worldwide and achieved sales revenue of 309 million euros.
“We are delighted with the acquisition of a majority stake in Pacificglas and the long-term partnership with Amorepacific. This is a major step in our Strategic Plan, Verescence 2022. Amorepacific will become a top customer of Verescence group and with Pacificglas, Verescence will reinforce its leadership in high-end Perfumery & Cosmetic glass packaging. From this strong base Verescence plans to become a pan-Asian leader and will invest in technology and capacity to meet growing demand of high-end glass,” said Thomas Riou, CEO of Verescence.
