Investment firm Carlyle is to acquire cosmetics packaging specialist HCP Packaging from Baring Private Equity Asia (BPEA) for an undisclosed sum.
Carlyle said it will work with HCP to explore global acquisitions and strengthen its R&D capabilities.
Equity for the deal will come from affiliates of two of Carlyle’s Asia buyout funds - Carlyle Asia Partners and Carlyle Japan Partners. The transaction is set to close in the third quarter of 2022 subject to regulatory approval.
Headquartered in Shanghai, HCP has 10 manufacturing facilities, in China, the US, Mexico and Europe.