Press release Annecy, September 25th, 2014


Ambition 2020: First acquisition confirmed The PSB INDUSTRIES Group has today concluded the final agreement for the acquisition of C+N Packaging Corporation Inc., a recognized player in the plastic packaging market for the Luxury & Beauty.

C+N Packaging is an injection molding and surface treatment expert, with 250 employees and an annual revenue around 25M$ in 2013. Through its several plants in North America and Poland, C+N Packaging provides high quality service to prestigious customers such as Avon, Elizabeth Arden and Estée Lauder.
This first acquisition, in line with the Ambition 2020 plan, strengthens the Group's international leadership in the Luxury & Beauty market. This operation will be accretive for the Cosmetic and Fragrance Packaging activity starting 2015 on a current operative income basis.
The complementarity between C+N Packaging and Texen offers to all customers an extended value proposition on the Luxury & Beauty segments (Skin care, Make up, Fragrance and Spirits) as well as reinforced regional commercial & industrial presence.

PSB INDUSTRIES thanks its partners for this transaction: Reed Smith LLP, Mazars and Gerald O. Dry, PA.

Next release: Q3 2014 Revenues will be published on October 13th

PSB INDUSTRIES is an innovation-driven industrial group with leadership positions in packaging and specialty chemicals. The group reported consolidated revenues of €257 million in 2013 including over 60% from international sales. The group has production plants in France, the United States, Japan and Mexico.

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