3i and funds take majority stake in cosmetic packaging leader Geka
3i, an international investor focused on private equity, infrastructure and debt management, and funds managed by 3i have agreed to acquire a majority stake in Geka, a leading manufacturer of brushes, applicators and comprehensive packaging systems for the cosmetics industry. The company is being acquired from Halder, an investor focused on medium-sized businesses. The acquisition price is not being disclosed.
Geka, headquartered in Bechhofen, Germany, serves both the mass market and premium segment for packaging in the cosmetic industry. In addition, it distributes cosmetics products via its subsidiary Victoria.
Founded in 1925, the company has a broad patent and product portfolio. Geka is a pioneer in innovation of plastic injection moulding for mascara brushes and mascara packaging as well as a development partner of market leading international cosmetics groups including Procter & Gamble, Avon and LVMH. The company runs production facilities in Bechhofen, Germany and in Elgin, Illinois, USA with an additional sales office in France. The packaging manufacturer employs around 650 staff globally and generated revenues of approximately €100 million in 2011.
Geka's future growth will come from its strength in innovation and its international expansion, particularly into China and Brazil. This will ensure close proximity to global customers and distribution partners in high growth emerging markets.
Ulf von Haacke, Partner and Managing Director of 3i Germany, said: "Geka's innovative strength and long-term partnerships with the leading cosmetics manufacturers put the company in an excellent position to foster growth in its highly attractive and stable market segment. We are convinced that we can support the company’s expansion and development by providing it with access to growth capital and 3i's international network."
Franco Lucá, CEO of Geka, adds: "We are excited about the pro-active partnership with 3i and are ready to step up our growth. Our level of innovation remains a key unique selling proposition. In addition to expanding our business into the Asian and South American markets, we are looking to enter the cosmeceutical market with 3i’s support."
The transaction is subject to competition approval.
For additional information, please contact:
3i contact - Germany, Austria, Switzerland:
Tel.: + 49 69 921874 81
3i contact - UK:
Kathryn van der Kroft
Tel.: +44 207 975 3021
Pilar González Gómez
Tel.: +49 9822 87303
3i is an international investor focused on private equity, infrastructure and debt management, investing across Europe, Asia and the Americas. Our competitive advantage comes from our international network and the strength and breadth of our business relationships. These underpin the value that we deliver to our portfolio, shareholders and fund investors.
The German-based manufacturer Geka GmbH is one of the world's leading manufacturers of brushes, applicators and of complete packaging systems for the cosmetics industry. The company sees itself as a development partner for the international industry. Product expertise that has been accumulated over the years, a constant flow of innovations and countless patents marks Geka out as the application specialist. Geka is able to offer its customers unique developments and non-exclusive packaging solutions.
For further information please contact:
Kathryn van der Kroft
tel. +44 207 975 3021