Maesa sells European, Middle Eastern operations to Kdc/One
Maesa plans to divest its European and Middle Eastern operations by selling them to Knowlton Development Corporation, also known as Kdc/One.
Kdc/One is a company focused on custom formulation, packaging design and manufacturing solutions for many beauty, personal care and home care brands.
The new organization will combine kdc/one’s packaging and formulation capabilities with Maesa EMEA’s ability to develop storytelling, creative designs and on-trend consumer products.
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"Maesa EMEA is an important part of Maesa’s origin story, and it became a leading partner for make-up and fragrance brands acrossEurope and the Middle East. Our EMEA team accelerated this incredible business, and we believe kdc/one is the right partner to support this team’s next chapter of growth. We expect the combination to further strengthen their ability to deliver exceptional and innovative solutions to customers," said Piyush Jain, chief executive officer at Maesa. "We sincerely thank the team for their valuable contributions over the years and wish them great success in the future. With this transaction, I am excited to continue to strengthen Maesa’s focus on innovation and redefining the consumer experience in beauty through leading innovation both on our existing portfolio of brands and launching exciting new ones. This strategic move will enable Maesa to continue to accelerate our rapid growth globally."
Following the transacation, Maesa shared that it will continue to focus on its core business, which include such global brands as g Kristin Ess, Being Frenshe, Hairitage by Mindy McKnight and Fine’ry, and a strategic portfolio of fragrance offerings created for some iconic fashion brands and retailers.
"kdc/one shares our unwavering focus on supporting customers and innovation, and this partnership will enable us to access new capabilities, accelerate our development, and better service our customers," said Olga Nazarkova, president at Maesa EMEA. "We are confident this is the right next step for our team and the brands we support, and we look forward to bringing the combined strength of our capabilities to better service our customers."
