Cosmogen has a new owner! Weinberg Capital Partners, an investment firm specializing in SMEs and mid-cap companies, has taken control of the French supplier of cosmetic applicators and packaging from MBO+. Financial details of the transaction were not disclosed.
Paul Cordahi, Director at Weinberg Capital Partners, said Cosmogen’s reputation among major brands and "the wealth of its expertise" were key factors that won over the equity fund.
Cosmogen expects total net sales to exceed EUR 23 million in 2024, up 15% compared to last year. The company benefited from strong demand in both Europe and North America, thanks to new customers, innovations and a successful entry into the pharmacy segment with a range of primary packaging dedicated to OTC products.
External growth and North America expansion
The new shareholder aims to accelerate the company’s growth trajectory, particularly by strengthening its international footprint and screening potential acquisitions. “We have already identified opportunities for external growth,” added Paul Cordahi.
The goal is part of “Cosmogen’s roadmap for the next five years”, Priscille Allais, President and CEO since 2019, told Premium Beauty News.
An acquisition would allow Cosmogen to complete its customer portfolio, its geographical coverage or its product skills.
Currently, the priority is clearly to boost sales in the United States where the demand is very strong, with a solid underlying market. “We are seeing a steady demand from indie brands such as Dr. Idriss, as well as from international groups such as L’Oréal,” continued the manager.
‘Fabless’ agility and innovation
Founded in 1982, the company has managed to win over a diverse clientele of beauty brands, thanks to a strategy combining innovation and fabless agility.
The company focuses on innovation, with the creation of patented standard packaging solutions that can be customized at the request of brands, or the creation of specific ones, through a network of industrial partners in Asia and Europe.
An in-house Innovation & Development team, combining marketing and engineering staffs, generates around thirty new registered models and 1 to 2 patents each year.
"Our fabless model has proven its resilience, and we have no intention of calling it into question. It allows us to respond with agility to growing demand while guaranteeing the quality of our network. We produce our own molds while diversifying our sourcing to Cambodia, the Philippines, or Vietnam," explained Priscille Allais.
"Who Cares Wins"
Under the impetus of Priscille Allais, the company’s growth trajectory has been based on a strategy combining economic performance, team well-being and sustainable innovation, formalized by its status as a company with a mission in 2022.
Cosmogen is aiming for the EcoVadis Gold certification in the short term and is preparing to open up part of its capital to all of its employees, in line with the principles of value sharing that are part of the companys’ project.
