THE WHAT? Medmix has continued its Asia growth with the acquisition of a majority stake in Guangdong Qiaoyi Plastic Co, a magnificence manufacturing enterprise in Shantou.
THE DETAILS The transaction is anticipated to shut within the first half of 2023, with the present house owners of Qiaoyi retaining a minority shareholding within the firm and can proceed to function the enterprise.
In accordance with a press launch, “This can enable medmix to leverage the entrepreneurial spirit and deep market experience of Qiaoyi in addition to entry the established native buyer relationships with its award profitable GEKA applicators for native magnificence manufacturers.”
THE WHY? The acquisition is according to the corporate’s native development technique in China, and is alleged to “strategically place medmix as a participant within the Chinese language magnificence sector, the quick rising second largest beauty merchandise market on this planet.”
Girts Cimermans, CEO of medmix, stated: “We proceed to execute on our strategic native for native development plan in China. China is the second largest Magnificence and Private Care market worldwide, anticipated to develop strongly over the approaching years. With the acquisition of Qiaoyi we are going to profit from this market development, broaden our buyer attain and enhance our entry to native Chinese language manufacturers for our wider vary of merchandise.”