The Albéa Group, a French global specialist in sustainable cosmetics packaging, has announced the acquisition of Conanec Industrie, a Breton company specializing in the manufacture of plastic injection molds and the machining of precision parts. The deal is a continuation of the long-standing relationship between the two companies.
Conanec Industrie, which caters to the cosmetics, pharmaceutical, food, medical and defense industries, has been supplying molds to Albéa for many years. The Conanec Industrie plant employs 18 people and will henceforth be an integral part of the Group's 35 sites. Conanec Industrie will continue to serve all its customers, who will now benefit from Albéa's advantages.
This acquisition marks a milestone in the strategy of the Albéa Group. Conanec Industrie will complement the production work carried out at Albéa's Shanghai moldshop with high-end tooling finishing and maintenance. This synergy will optimize costs and reduce production lead times, while enhancing the quality of services offered to customers.
"This acquisition will enable us to develop a hybrid Sino-French model, making us more agile and competitive in the service of our customers. We are proud to be integrating a fine local company and to be contributing to the preservation of French industrial know-how, by perpetuating the values of its founder, Daniel Conanec, through a local and responsible approach. "said Bertrand de la Tour d'Artaise, Executive Vice President and Head of M&A for the Albéa Group.
