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French Fareva Completes Acquisition of Majority Stake of Chromavis
Posted: August 26, 2013
On July 31, 2013, Fareva Group completed the acquisition of a majority stake in the Italy-based Chromavis Group. Fareva, with its 31 industrial sites, is a world leader in the field of outsourcing cosmetic, pharmaceutical and household products, and Chromavis is the one of the world's largest operators in the B2B makeup industry. Through this acquisition, Fareva becomes a major player in the field of makeup, while Chromavis consolidates its position in the market and is actively pursuing its strategy of international expansion.
Bernard Fraisse, CEO of Fareva Group, says, "This acquisition is a major event for the group. Thanks to the creativity of Chromavis in the field of makeup, Fareva strengthens its strategy of global offering to its customers and has now in the cosmetics field—makeup and skin care—all the assets allowing it to be at the forefront of innovation and strengthen its R&D dimension, in which it has heavily invested in recent years, to better meet the market expectations. More complementarities—customers, geographical location, activities—will allow to implement numerous different synergies."
And Bernard Msellati, president of Chromavis, said "We are very pleased to announce this news, which enables Chromavis to consolidate its global presence, in the United States and Brazil in particular, taking advantage of the strength of Fareva group, its ambitious development strategy and production network, and also its industrial know how. This way, innovation and creativity are associated with industrial efficiency and excellence."