With its purchase of a majority stake in Anewcos, announced this week, primary packaging supplier Axilone is building its turnkey offer in the beauty space, while entering the formulation market for the first time. The move allows the French group to offer skincare, loose powder and foundation formulas as well as filling capacities.
Axilone’s acquisition of Anewcos, a Chinese supplier based in Jiangsu province, means the French company’s area of expertise is expanding beyond primary packaging solutions and into formulation and filling. “Anewcos’ expertise in formulation will also help us propose superior solutions when designing next generations of primary packaging,” said Axilone in a statement.
Anewcos currently works with local brands; the deal will expand its reach to beauty companies outside of China.
The Chinese company operates a production facility covering 13,000m2 with a staff of some 120. This factory joins Axilone’s current industrial footprint of wholly owned factories in China, France and Spain.