Investindustrial is set to acquire a majority stake in Virospack, a manufacturer of premium dropper packaging for the cosmetics industry. The Spanish manufacturer plans to expand its manufacturing capabilities and boost the sustainability of its products.
Investment company Investindustrial is to acquire a 51% stake in Virospack, a manufacturer of premium cosmetics droppers.
Headquartered in Badalona, Barcelona’s metropolitan area, Virospack develops and manufactures droppers for skin, hair and nails care products and liquid make-up products. Founded in 1956, the company generates annual global sales of approximately EUR 60 million, with export sales representing more than 90% of the total, with its products being distributed to more than 20 countries across four continents.
In the past 10 years, Virospack has invested approximately EUR 60 million to build additional manufacturing capacity in a 21,000 sqm complex in Barcelona. Virospack is currently undertaking a further significant expansion of its facility to increase its manufacturing area by more than 50% over the next three years. In addition, Virospack is advancing its sustainability programme encompassing circular economy concepts in the design and production of their products alongside its customers.
Led by Executive Chairman Vicens Rodriguez, son of the founder, Virospack manufactures over 120 million droppers and spatulas and more than 20 million bottles annually and employs almost 400 people.
“I am delighted to partner with Investindustrial who is investing in our business to create further opportunities for expansion and to provide the right level of support to help us achieve further growth. Investindustrial has an excellent reputation for its stewardship and its ability to help companies scale and internationalise, and I am excited about working with them,” said Vicens Rodriguez in a statement.
“Virospack is unquestionably a market leader, renowned for the quality of its products and the strength of its relationships with its highly regarded global leading cosmetics clients. We have been impressed by the team and its operations and are excited about Virospack’s growth potential in the coming years. We are really looking forward to working with the Rodriguez family and the wider management team to continue Virospack’s growth,” added Andrea C. Bonomi, Chairman of the Industrial Advisory Board at Investindustrial.
This transaction, which is subject to customary approvals, builds on Investindustrial Group’s track record in the specialty packaging sector following its investment in Guala Closures, a manufacturer of aluminium high-end closures for the beverage industry with revenues of more than EUR 900 million.