ColepCCL has bought a 51 percent share capital stake in the companies, allowing it to build on the recent launch of the ColepCCL Provider Aerosol (CPA) joint venture, which was announced in September to produce aerosols for consumer products in the Latin American market.
The company is already a leading global manufacturer of aerosols, liquids and packaging solutions, but this deal will enable it ito join forces with Total Pack and Provider, which both have expertise in the market for personal care and homecare liquid products in the Latin American market.
Tapping into powerful Latin American growth
The intention is to enable ColepCCL to tap into industry growth in the main Latin American markets that has continued to race ahead at breakneck speed, even during the recent economic downturn.
In particular Brazil has seen some of the fastest consumer growth in the world in recent years, with the market for cosmetics and personal care continuing to grow at well into double-digit figures. Currently the market is estimated to be worth over $10bn in annual sales.
“We see real potential for the development of the personal care and household markets in Brazil and we believe that this deal will positively influence our position and offer to customers,” said Ricardo Zalaquett, CEO of Provider and Total Pack.
Combining different expertise
The partners claim that the venture will combine ColepCCL’s experience in the Europe market with the clear market knowledge and expertise from Provider and Total Pack, which are both based in the state of Sao Paulo.
This will see the JV concentrate on providing solutions for the major players in the Latin America and Brazil markets for personal care and cosmetics, while also ramping up the development of new product solutions for these players.
“We will be able to seize the opportunities that this expansive market brings in terms of new product development and market growth in the personal care market,” said Vitor Neves, CEO of ColepCCL.