Luxury Cosmetic Solutions Investments, a subsidiary of Investindustrial Growth, has agreed to acquire Italy-based cosmetics packaging integrator Eurovetrocap.
Under the terms of the agreement, Eurovetrocap’s founders the Cattaneo family will retain a minority stake in the company, and its existing management team will remain in place.
The deal makes Luxury Cosmetic Solutions, which also owns Virospack, a Spanish global manufacturer of cosmetic droppers, one of the leading European groups in cosmetics packaging.
Founded in 1983 and headquartered in Milan, Italy, Eurovetrocap develops, finishes and distributes plastics, glass and aluminium primary packaging for the skin care, makeup, and pharmaceutical markets.
It employs 140 employees and produces more than 280 million units annually, primarily serving small and independent brands.
In a statement, Investindustrial Growth, described Eurovetrocap as a ‘transformational add-on’ for the group, that jointly with Virospack, created a ‘highly diversified cosmetic packaging platform with more than €120 million ($123.6m) of combined revenue, almost 500 employees and with leading manufacturing and distribution capabilities’.
The partnership also unlocked cross-selling and joint product development opportunities, including pumps, moulded glass, and mould manufacturing, where Eurovetrocap has a deep technical expertise, it added.
“We are very pleased to welcome Eurovetrocap into our platform for cosmetics packaging,” said Andrea Bonomi, chairman of Investindustrial’s advisory board.
“This strategic partnership significantly enhances our position in the sector, creating a well-diversified and balanced group. By leveraging the combined strengths of both Virospack and Eurovetrocap, they will expand the market reach, strengthen relationships with leading beauty brands, and unlock new avenues for innovation and cross-selling.”
The news comes after packaging converter Amcor announced in November 2024 that it would buy US-based Berry Global in an $8.43 billion deal that would create a global behemoth across the consumer and healthcare packaging sectors.
Amcor and Berry make cartons, closures and containers for food, beverage, pharmaceutical, medical, home and personal care, and operate across a combined 140-plus countries.
