Knowlton Development Corporation (KDC/ONE) has inked a deal to acquire Shanghai Paristy Daily Chemical Co., Ltd. The strategic acquisition is the first of its kind in Asia that is set to close in the Q1 2020; financial terms of the transaction is yet to be disclosed. The acquisition is believed to be testimony to the fact that KDC/ONE is gearing to offer innovative manufacturing and packaging solution and vertically integrated custom formulation to their customers in Asia and brand partners around the globe.

The Founder and Senior Partner of Cornell Capital Henry Cornell expressed his reverence to have acquired Paristy as first wholly-owned APAC manufacturing hub. Cornell believes the deal will help them hone their ability to cater to the clients of global Prestige Beauty and global customer base. He went on the emphasize the significance of the deal in expanding operational footprint in China. Cornell commented that Paristy has been serving customers in Asia for more than 5 decades and has a shared commitment to bring forth high-quality manufacturing capabilities and cutting edge innovation to its customers.

Nicholas Whitley, President and CEO of KDC/ONE stated that the deal has several possibilities up their sleeves for the company. He noted that Paristy has track record of proven capabilities in the manufacture and formulation of pressed and wet powder, along with other innovative color cosmetic products such as primer, concealer and foundation.

Bolstered with 16 state-of-the-art facilities in North America, Asia and Europe, KDC/ONE provides seamless operational excellence, high-touch innovation and speed to market to emerging and popular brands. Reportedly, KDC/ONE has nearly 2-fold the size of the company over the past year, expanding penetration across North America, Europe and Asia and adding new technologies in its portfolio.

Not long ago, KDC/ONE inked a deal to merge with HCT group, thereby creating an end-to-end and innovative solutions for customers spanning from Fortune 500 companies to emerging, indie and prestige brands.

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https://finance.yahoo.com/news/kdc-one-acquire-shanghai-paristy-130000184.html