February 2019 Spray 39
Mergers & Acquistions
Walker & Co. Brands will join the Procter &
Gamble Co. and will operate as a separate and
wholly-owned subsidiary. Walker & Co., founded
in 2013, makes health and beauty products and
services for people of color such as Bevel shaving
products and FORM Beauty hair care. Walker &
Co. Brands’ CEO & Founder Tristan Walker will
continue to lead the company.
Avon has entered into a definitive agreement with LG subsidiary,
TheFaceShop, one of Asia’s largest consumer goods and beauty companies.
TheFaceShop will acquire all of the shares of Avon’s Beauty
manufacturing operation in Guangzhou, China. The deal is worth a
net purchase price of $44 million. Under the terms of the agreement,
the companies also agreed to enter into a manufacturing and supply
agreement, under which the Guangzhou factory will manufacture
products for Avon’s fast-growing Chinese business and other markets,
while maximizing the capacity of the plant for its
own production. Avon’s associates at the facility
will remain with the operation. The transaction is
expected to close by February 2019
following customary local regulatory
approvals.
Lindal Group’s Vari subsidiary has
created an agreement to integrate and commercialize
Biocorp’s Inspair smart sensor that converts
inhalers into connected devices. Inspair helps those with pressurized
metered-dose inhalers and records data related to daily inhalations,
gives proper preparation, actuation and inhalation information and
provides inhalation guidance. The commercialization agreement covers
several countries in South America, Eastern Europe, Middle East
and Southeast Asia.
Croda International Plc has
increased its minority shareholding
in digital device company
Cutitronics Ltd. with an undisclosed
sum. Croda remains a
minority shareholder. Cutitronics
makes CutiTron, a product
in development to create a
customizable commercial device to assess skin health and prepare it
for the delivery of a skin care formulation.
TricorBraun has acquired flexible packaging maker Pacific Bag,
LLC for an undisclosed sum. Pacific Bag will be combined with
Taipak to create TricorBraun Flex, a new business unit focused
on flexible packaging with continued operations in Vancouver,
Seattle, Calgary, Toronto and Philadelphia. Pacific Bag is
TricorBraun’s sixth acquisition in the past 18 months, which
included Salbro Bottle, Continental Packaging Associates,
Taipak, Package All and the remaining shares of a joint venture
in Mexico. Spray