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Zorbit and Maesa Merge
Posted: December 1, 2008
Zorbit Resources and Maesa announced a definitive merger agreement to create a global company specializing in branding, design, tailor-made packaging, and turnkey beauty and home products. The Zorbit and Maesa businesses will continue to operate separately under their respective brand names.
Gregory Mager, founder and CEO of Maesa, will remain CEO of the holding company, Maesa Inc. Thomas Butkiewicz, president of Zorbit, will be responsible for running the Zorbit U.S. turnkey beauty and packaging divisions, and oversee the packaging group in Europe and the organization in China.
“The merger of Zorbit with the Maesa Group is extremely compelling for our customers, employees and shareholders as it will create a powerful leader in the beauty industry, with greatly expanded product offerings, services and significant opportunities for synergistic operating efficiencies," said Mager. "Zorbit’s assets and management will provide Maesa’s European presence with access to Zorbit’s branding and design studio as well as manufacturing resources. Maesa will expand Zorbit’s branding presence in the European market.”
“The combination will greatly strengthen both companies' distinctive abilities to respond to the beauty industry’s rapidly changing needs in this incredibly rapid changing environment," said Butkiewicz.
The new organization has combined annual revenues of $95 million, seven offices worldwide and a staff of 250.