Private equity firm 3i and its funds have acquired a majority stake in GEKA, a Bechhofen, Germany-based manufacturer of brushes, applicators and comprehensive packaging systems for the cosmetics industry, for an undisclosed sum.
The seller is Halder, an investor focused on medium-sized businesses.
With the transaction, which is still subject to competition approval, 3i intends to help the company expand internationally, particularly into China and Brazil.
Founded in 1925 and led by CEO Franco Lucá, GEKA serves both the mass market and premium segment for packaging in the cosmetic industry and distributes cosmetics products via its subsidiary Victoria. The company is a pioneer in innovation of plastic injection moulding for mascara brushes and mascara packaging as well as a development partner of international cosmetics groups such as Procter & Gamble, Avon and LVMH.
The company runs production facilities in Bechhofen, Germany and in Elgin, Illinois, USA with an additional sales office in France. GEKA employs around 650 staff globally and generated revenues of approximately €100m in 2011.