Latest News
Aptar to Acquire an Equity Interest in China-Based BTY Companies
Wednesday 09 October 2019

9 October 2019 - Illinois, US-based AptarGroup, Inc. (NYSE: ATR), a provider of dispensing, drug delivery and active packaging solutions, has agreed to acquire a 49% equity interest in three China-based BTY companies: Suzhou Hsing Kwang (SZHK), Suqian Hsing Kwang (SQHK) and Suzhou BTY (BTY), the company said.
Financial details will be disclosed upon successful completion of the transaction. The transaction is subject to customary regulatory approvals and is expected to close by the end of 2019 and the purchase will be funded with available cash on hand.
This investment brings complementary and distinctive capabilities to Aptar including high speed stamping and anodisation, metal and plastic decoration and differentiated lipstick masstige mechanism design and manufacturing.
This investment positions Aptar well to capitalise on growth potential in the Asian color cosmetics market, while further strengthening Aptar's ability to serve customers focussed on the color cosmetics markets.
Aptar is in innovative dispensing, drug delivery and active packaging solutions for the beauty, personal care, home care, prescription drug, consumer health care, injectables, food and beverage markets.
The BTY entities are Chinese manufacturers of decorative metal components, metal-plastic sub-assemblies and complete color cosmetics packaging solutions for the beauty industry.
BTY was founded in 2002, and is a group company focusing on packaging design, development and manufacturing to serve color cosmetics, skin care and fragrance markets, with its own dedicated aluminum anodisation facilities in Suzhou and Suqian in Jiangsu Province.
Details
Date Published: 09/10/2019
Target: Suzhou Hsing Kwang (SZHK), Suqian Hsing Kwang (SQHK) and Suzhou BTY (BTY)
Country: China
Sector: Paper/Packaging/Office Supplies
Type: Stakebuilding
Financing: Cash
Status: Agreed
Vendor:
Buyer: AptarGroup, Inc
Comment:
Terms of the deal were not disclosed

Options