Sussex-based manufacturer SussexIM has purchased the North American cosmetic compact business of Albea Group.
The custom plastic injection molder completed a partial management buyout from its former owner, Rexam Plastic Packaging Group, in 2010. The compact unit was then manufactured at SussexIM but still owned by Rexam.
When Rexam sold its personal care product unit to Albea recently, SussexIM decided to buy the compact business, said Keith Everson, president.
“We have proudly delivered superior, innovative molding, decoration and assembly solutions for many of the industry’s most demanding and respected cosmetics companies,” Everson said. “With the purchase of our cosmetic production assets, we can seamlessly and efficiently serve this exciting industry and deliver the quality, experience and return-on-investment SussexIM has long been known for.”
The change will allow SussexIM to more directly interact with its customers, Everson said. The company will also be re-establishing an innovation center at its facility.
Its customers include global cosmetics companies like L’Oreal, Revlon and Neutrogena.
“Now that we’re smaller, more nimble, more speed to market focused, we can help them with their launches and we can get them out onto the product shelves quicker,” he said.
SussexIM has 375 employees. It has doubled its staff levels since 2010, driven by growth in other parts of the business, including light industry work.
The company has about $70 million in annual sales and has experienced double digit growth for each of the last three years.