Beauty packaging company HCT has joined forces with Knowlton Development Corporation (KDC/One), the company that acquired French cosmetics manufacturer Alkos Group in July 2019 to form a “comprehensive global end-to-end solutions provider for the beauty and personal-care industry”. "Our vertically integrated platform will offer the industry a true one-stop solution,” commented Nicholas Whitley, president and ceo of KDC/ONE in a statement. “We expect that KDC/ONE's manufacturing capabilities with HCT's packaging design expertise will enable the new platform to better serve its customers globally."
The transaction will improve the overall financial profile of the companies through further diversification and increased scale," added Justine Cheng, Chair of the KDC/ONE board and Partner at Cornell Capital, the investment firm that acquired KDC/ONE in December 2018. Once the merger is finalized, the two entities will continue to be managed by their current Ceos: Tim Thorpe at HCT and Whitley at KDC/ONE.
Quebec-based KDC/ONE, founded in 2002 and is comprised of a “network of manufacturers and designers of high-end formulas” in the cosmetics and personal-care markets, among others. The company operates 16 manufacturing sites across North America and Europe.