HCT Group has officially acquired 100% ownership of HCT Kent Packaging Ltd as of July 2, 2019. The two companies have been partners for over 13 years.
HCT Group now has full ownership of HCT Kent's 500,000 square foot Chinese factory.
HCT Kent was cofounded in 2006 by HCT and Kent Lee. The HCT Kent facility currently features a fully automated assembly line and specializes in plastic injection molding, EBM (extrusion blow molding), and IBM (injection blow molding).
Jenny Hsu, chief strategy officer, HCT Group, states, "This acquisition has given us the power to further merge our world-class design and innovation capabilities with fully integrated in-house manufacturing. We have plans to double the size of the factory to increase capacity, which will allow us to aggressively capture business historically left on the table."
Hsu continues, "In addition, this acquisition will give us the ability to expand our product offerings, and serve new markets, while delivering the same great quality and service that HCT Group has always been known for."
HCT's team says it is gearing up for a very successful year following this acquisition -- and the company states, "we are also reflective and thankful for the many years of prosperous work with Mr. Kent Lee."
More About HCT Group
HCT Group is a top full-service supplier for the beauty industry. For over 25 years, HCT Group has remained a global leader in cosmetic manufacturing -- and partners with many of the most successful brands.
While the company works with brands from all over the world, this acquisition will give them the capacity needed to capture business that they were not previously able to, and help them break into China's expansive beauty marketplace.
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HCT Group: Through the Decades