French glassmaker Verescence has purchased a majority share in Amorepacific’s subsidiary Pacificglas, a specialist in premium glass packaging for the cosmetics industry founded in 1973. Financial terms of the transaction were not disclosed.
Verescence has also inked a long-term partnership with Amorepacific that will see it supply the South Korean beauty group with significant glass packaging volumes.
“This is a major step in our Strategic Plan, Verescence 2022. Amorepacific will become a top customer of Verescence group and with Pacificglas, Verescence will reinforce its leadership in high-end Perfumery & Cosmetic glass packaging,” commented Verescence CEO Thomas Riou in a statement. “From this strong base Verescence plans to become a pan-Asian leader and will invest in technology and capacity to meet growing demand for high-end glass,” he added.
Verescence (Stirling Square Capital Partners) has three glass production and four decoration sites in Europe and North America.