French packaging company Albéa has acquired Chinese-based Zhongshan Meiquan Plastic Products, belonging to the Tex R.L. group. Zhongshan Meiquan Plastic Products, better known as Tex China, manufactures packaging for the cosmetics and perfumery sectors.
Located in Guangdong Province in China, Tex China has 700 employees and three factories specializing in the production of mascara, lip gloss, lipstick, pots and cases. In 2011, the company recorded a turnover of $20 million, of which 80% came from exports.
With five production sites throughout China and a sales office in Shanghai, Albéa continues to strengthen its presence in the Chinese market, the company stated.
"The acquisition of Tex China and its attractive portfolio of standard solutions have allowed Albéa to consolidate its global product offer. We also have a local innovation and development team, a necessary tool if we want to penetrate the fast-growing Chinese market," stated François Luscan, president and CEO of Albéa, in the news release.
Albéa also added a mold manufacturing workshop from Tex China, which will enable the group to develop its own industrial molds.
With this latest acquisition, Albéa has about 10,200 employees and 36 sites across 13 countries and offers a wide range of products for the cosmetic, perfume, health and dental care markets.