Polimoon acquires cosmetics firm

(Published November 2007) Polimoon has bought the cosmetic packaging business of STE Packaging Development, located in Barcelona, Spain.

The STE business has annual sales of €4m, producing a wide range of injection moulded jars, caps and beauty systems.

“We believe this acquisition in Spain is a great opportunity,” said Polimoon vice president for western and southern Europe Pierre Sabatier. “It strengthens our position in the beauty market. It will be a base to expand our position in Spain.”

Polimoon, which has annual sales of €750m, says it will invest in the Esparraguera plant to upgrade its capabilities and expand its capacity.

The deal also includes a second STE plant located at Vilabella.