BECHHOFEN, GERMANY (Feb. 27, 5:15 p.m. ET) — London-based investment firm 3i Group plc and related funds have agreed to acquire a majority interest in cosmetics parts major Geka GmbH of
3i announced the deal Feb. 27 but did not disclose terms of the acquisition. Its completion date will depend on when the parties receive competition approvals, said spokeswoman Pilar Gonzales-Gomez in an e-mail correspondence.
Geka has production plants in Bechhofen, and in
3I said Geka is a pioneer in the use of plastic injection molding for mascara brushes and mascara packaging. Its customer list includes Procter & Gamble,
“Geka's innovative strength and long-term partnerships with the leading cosmetics manufacturers put the company in an excellent position to foster growth in its highly attractive and stable market segment,” noted Ulf von Haacke, partner and managing director of 3i
“We are excited about the pro-active partnership with 3i and are ready to step up our growth,” stated Geka CEO Franco Lucá. “Our level of innovation remains a key unique selling proposition. In addition to expanding our business into the Asian and South American markets, we are looking to enter the cosmeceutical market with 3i's support.”
Gonzalez-Gomez said Geka's international expansion plans will be announced at a later date. She also stated if there are any changes to current production operations that too will be detailed later.
3I has held a majority stake in injection hot runner major Mold-Masters Ltd. since 2007. Hot runners are used extensively in cosmetics packaging to improve aesthetics. Mold-Masters of
3i bought Geka from Dutch investment firm Halder which held it since 2007.