Carlyle To Acquire HCP Packaging

Carlyle, a global investment firm, announced it has agreed to acquire a 100% stake in HCP Packaging—from Baring Private Equity Asia (BPEA). 

Funds will come from Carlyle Asia Partners and Carlyle Japan Partners' affiliates, two of the company's buyout funds in Asia. The terms of the transaction were not disclosed.

HCP is a global leader in the design, development, and manufacture of cosmetic packaging—and Carlyle says it plans to help support the company as it scales its operations and grows. 

Eddy Wu, president, and CEO of HCP Packaging, comments, “We are incredibly proud of our journey to become a leading cosmetics packaging manufacturer and would like to thank BPEA for their support over the past six-and-a-half years. Our strategic priorities continue to be centered on driving sustainable packaging innovation and delivering top-quality services and best-in-class operational excellence to our customers worldwide."

During BPEA’s ownership, HCP has experienced transformative growth—becoming an even stronger primary packaging supplier for both color cosmetics and skincare, with expanded product technology and geographical footprint.

Alex Lee, managing director at BPEA, says, “We’re proud to have overseen the transformation of HCP’s ESG and sustainability capabilities, including developing refillable PCR packages and utilizing sustainability-certified manufacturing facilities." (Some of HCP's sustianable packaging options, along with trends, were featured during a presentation.)

Wu adds, "We are delighted to partner with Carlyle and to have a new owner with such high caliber. We look to leverage Carlyle’s global platform strengths for our next phase of growth and as we expand our leading market position internationally.”

Plans To Grow Globally

Carlyle says it will leverage its deep sector experience in the consumer and manufacturing industries to help support HCP's growth and growing its global customer base.

Carlyle will also work with HCP to help explore global strategic acquisitions, further strengthen the company’s leading R&D capabilities, and facilitate business synergies and alliances for HCP with its global network of portfolio companies in the cosmetics, consumer, and manufacturing industries.

Wanlin Liu and Dennis Wang, managing directors of the Carlyle Asia Partners advisory team, comment:

“We are excited to partner with HCP and look forward to working with Eddy and the management team on the company’s next phase of global growth and expansion. We see long-term growth potential in the beauty and cosmetics industry and believe HCP’s business track record and commitment to R&D and ESG are market differentiators."

Liu and Wang add, "We plan to leverage the strengths of our global platform, market expertise, and synergies from our network of portfolio companies in the consumer and manufacturing sectors to help HCP capture new growth opportunities—and take the company to the next level.”

More About HCP Packaging—Founded in 1960

HCP Packaging, headquartered in Shanghai, was founded in 1960. It is one of the world’s largest beauty packaging providers with 10 state-of-the-art production and manufacturing facilities across China, the USA, Mexico, and Europe.

The company has produced many innovative award-winning packaging designs and is dedicated to researching and investing in sustainable packaging solutions for the beauty industry. It works with over 250 leading cosmetics, skincare, and fragrance brands, including Estée Lauder, L’Oréal, and Shiseido.

The transaction is subject to customary regulatory approvals and is expected to close in Q3 2022.