Private equity firm Fremman Capital is acquiring Innovative Beauty Group from Albéa Group, a move that includes the Fasten Packaging line of business.
Fasten is one of three segments at IBG, which also includes Orchard Custom Beauty, a maker of beauty products. The other brand is Roberts Beauty, described by IBG as "a full-service provider offering both stock and custom packaging solutions, as well as color and skincare formulations."
"In this next chapter, we look forward to a bright future with Fremman Capital, a partner that shares our values and passion for people and service. As always, we remain dedicated to delivering exceptional beauty products and packaging solutions to our valued clients across the globe," said IBC CEO Xavier Leclerc de Hauteclocque in a statement.
Fasten describes itself as "a full-service cosmetic packaging provider. Working with some of the biggest brands in the industry, Fasten Packaging designs, develops and produces on-brand packaging that stands out on the shelf."
IBG, the company said, "will continue to pursue the development of its innovative packaging solutions under its Fasten Packaging brand while also continuing to develop its own brands in collaboration with retailers or celebrities."
Albéa makes both beauty products and packaging and is based in Gennevilliers, France. The company has about three dozens sites in Europe, Asia and the Americas.
Fremman calls itself a "pan-European, mid-market investment firm with offices in London, Luxembourg, Madrid, Munich and Paris."