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CARLYLE TO ACQUIRE LEADING GLOBAL COSMETICS PACKAGING COMPANY HCP FROM BPEA

05 26,2022 12:00:00

Shanghai, China, May 26, 2022 – Global investment firm, Carlyle (NASDAQ: CG)
today announced it has agreed to acquire a 100% stake in HCP Packaging (“HCP”),
a global leader in the design, development and manufacture of cosmetic
packaging, from funds affiliated with Baring Private Equity Asia (“BPEA”).
Equity for this transaction will come from affiliates of Carlyle Asia Partners
and Carlyle Japan Partners – two of Carlyle’s buyout funds in Asia. Terms of the
transaction were not disclosed.




Founded in 1960 and headquartered in Shanghai, HCP is currently one of the
world’s largest beauty packaging providers with 10 state-of-the-art production
and manufacturing facilities across China, the USA, Mexico and Europe. The
company has produced many innovative award-winning packaging designs and is
dedicated to researching and investing in sustainable packaging solutions for
the beauty industry. It works with over 250 leading cosmetics, skincare and
fragrance brands including Estée Lauder, L’Oreal and Shiseido.




Carlyle will leverage its deep sector experience in the consumer and
manufacturing industries to support HCP as it continues to scale its operations
and grow its customer base globally. Carlyle will also work with HCP to help
explore global strategic acquisitions, further strengthen the company’s leading
R&D capabilities, and facilitate business synergies and alliances for HCP with
its global network of portfolio companies in the cosmetics, consumer and
manufacturing industries.




During BPEA’s ownership, HCP has experienced transformative growth. With BPEA’s
support, HCP has become an even stronger primary packaging supplier for both
color cosmetics and skincare products with expanded product technology as well
as geographical footprint.




Eddy Wu, President and CEO of HCP Packaging, said: “We are incredibly proud of
our journey to become a leading cosmetics packaging manufacturer and would like
to thank BPEA for their support over the past six-and-a-half years. Our
strategic priorities continue to be centered on driving sustainable packaging
innovation and delivering top-quality services and best-in-class operational
excellence to our customers around the world. We are delighted to partner with
Carlyle and to have a new owner with such high calibre. We look to leverage
Carlyle’s global platform strengths for our next phase of growth and as we
expand our leading market position internationally.”




Wanlin Liu and Dennis Wang, Managing Directors of the Carlyle Asia Partners
advisory team, said: “We are excited to partner with HCP and look forward to
working with Eddy and the management team on the company’s next phase of global
growth and expansion. We see long-term growth potential in the beauty and
cosmetics industry and believe HCP’s business track record and commitment to R&D
and ESG are market differentiators. We plan to leverage the strengths of our
global platform, deep industry and market expertise, and synergies from our
extensive network of portfolio companies in the consumer and manufacturing
sectors to help HCP capture new growth opportunities, and take the company to
the next level.”




Alex Lee, Managing Director at BPEA, said: “We are proud to have supported HCP’s
growth and evolution into a global leader in packaging during our time with the
company. By expanding into new markets, broadening HCP’s reach in its home
market of China and developing a range of exciting new product offerings through
selective bolt-on acquisitions, we’re confident that the company is very well
positioned to continue growing over the longer-term. We’re also proud to have
overseen the transformation of HCP’s ESG and sustainability capabilities,
including developing refillable PCR packages and utilizing
sustainability-certified manufacturing facilities, which will leave a more
sustainable and environmentally-friendly footprint going forward.”




The transaction is subject to customary regulatory approvals and is expected to
close in Q3 2022.




***




About HCP




From conception to manufacture, HCP Packaging is a global leader in the design,
development, and manufacture of next generation primary packaging containers for
the beauty industry. HCP’s product portfolio includes compacts and palettes,
lipsticks and twist up sticks; mascara with expertise in molded & fiber brushes;
lip gloss and concealer, pots, jars, and closures; pumps and droppers. Dedicated
to sustainability, with world-class in-house finishing facilities, HCP enables
brands to customize and transform packaging aesthetics with high quality and
striking decoration. For more information on HCP, please visit the company’s
website www.hcpackaging.com




 




About Carlyle




Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise
that deploys private capital across three business segments: Global Private
Equity, Global Credit and Global Investment Solutions. With $325 billion of
assets under management as of March 31, 2022, Carlyle’s purpose is to invest
wisely and create value on behalf of its investors, portfolio companies and the
communities in which we live and invest. Carlyle employs nearly 1,900 people in
26 offices across five continents.




Carlyle’s buyout funds, including Carlyle Asia Partners and Carlyle Japan
Partners, have well-established experience investing in the consumer and retail
as well as manufacturing and industrial sectors, with investments in TOKIWA
Corporation, Beautycounter, Golden Goose, Vogue, Novolex and Logoplaste among
others. Globally, Carlyle has invested approximately US$25 billion of equity in
over 135 deals in the consumer, media and retail sector and over US$30 billion
of equity in more than 115 deals in the manufacturing and industrial sector as
of March 31, 2022.




Further information is available at www.carlyle.com. 




 




About BPEA




Baring Private Equity Asia (BPEA) is one of Asia's largest private alternative
investment firms, with USD 21 billion of FPAUM. BPEA manages a private equity
investment program, sponsoring buyouts and providing growth capital to companies
for expansion or acquisitions with a particular focus on the Asia Pacific
region, as well as dedicated funds focused on private real estate and private
credit. The firm has a 25-year history and over 220 employees located across 10
offices in Beijing, Delhi, Hong Kong, London, Los Angeles, Mumbai, Singapore,
Shanghai, Sydney, and Tokyo.




BPEA is a responsible investor that seeks to create value for all stakeholders
through a sustainable approach to investing. The firm is a signatory to the
UNPRI (United Nations Principles for Responsible Investment) and is committed to
action within its own business and the companies in which it invests to drive
sustainability across a range of issues, from climate change to social concerns
to effective governance. For more information, please visit www.bpeasia.com.




 

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