Knowlton Development Corporation (KDC) announced the acquisition of another beauty care contract manufacturing business last week – Thibiant International, Inc. Based in Chatsworth, Calif., Thibiant is a custom formulator and manufacturer of personal care and skin care products for beauty care brands. The company operates out of a 330,000 square foot facility with 285 employees. The acquisition provides KDC an initial footprint in the Western U.S.
The transaction represents the latest in a string of acquisitions by KDC, which is backed by private-equity firm NOVACAP. Since its partnership with NOVACAP, KDC has deployed more than $200 million in capital to grow the business, including the acquisitions of ChemAid, Kolmar Labs, Acupac, and Cosmetic Technologies. Today KDC is a leader in the beauty care contract manufacturing sector with sales of over $700 million, eight operating facilities and 2,800 employees. However KDC is not done on the acquisition trail. According to the company, KDC plans to reach more than $1 billion in sales within the next three to five years.
In other contract manufacturing news, Kolmar Korea announced the acquisition of a majority stake in Canadian cosmetic company CSR Cosmetic Solutions (CSR). CSR develops and manufactures color cosmetics, skin creams and lotions and alcohol-based products. The acquisition allows Kolmar to further extend its presence in North America and falls on the heels of Kolmar’s acquisition of Process Technologies, a U.S.-based color cosmetics manufacturer, in September.
For additional commentary on beauty care contract manufacturing, see our blog post “Capvis Equity Partners Acquires Gotha Cosmetics.”