Moving to expand its global footprint, Knowlton Development Corporation (known as KDC/ONE) first announced the acquisition of French cosmetics manufacturer Alkos Group. Financial terms of the transaction were not disclosed. Just two weeks later came news that KDC/ONE had entered into a conditional agreement for the manufacturing business and associated assets of Swallowfield plc, a 140-year-old business headquartered in Wellington, UK, that’s engaged in the development, formulation and production of quality products for many of the world’s leading personal care and beauty brands. The price: total cash consideration of approximately £35 million (approximately C$57 million; $43 U.S.), subject to adjustment for the working capital of the manufacturing business at the date of completion.
Headquartered in Paris, Alkos Group comprises Inter Cosmétiques, Sagal Cosmétiques and Alkos Cosmétiques with a portfolio of luxe ‘Made in France’ products across makeup, skin care, cosmetic pencils and perfumed deo sticks and soaps, all of which serve major worldwide cosmetics brands, including the only French manufacturer of cosmetic pencils.
Upon the transaction closing, Swallowfield’s Matthew Gazzard will become KDC/ONE Swallowfield president and Jane Fletcher will be KDC/ONE Swallowfield sales & marketing director. Tim Perman will remain chief executive officer of Swallowfield’s brand business.