Jamie Matusow, Editor-in-Chief03.16.16
China-based supplier HCP Packaging—suppliers of luxury cosmetics packaging for brand manufacturers including L’Oréal, Revlon and Shiseido—has been sold by private equity firm TPG Capital Management, to Baring Asia, one of the largest and most established independent private equity firms in Asia, returning $1.55 billion in total to investors in 2015. This change of investor from its previous stakeholder TPG Capital does not affect the ongoing operations of HCP, whose management team will continue to oversee the business.
TPG had acquired HCP from members of the founding Chen family in 2012 through its Asia V fund. It reportedly sold the company to Baring Asia for $775 million.
TPG had acquired HCP from members of the founding Chen family in 2012 through its Asia V fund. It reportedly sold the company to Baring Asia for $775 million.