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medmix continues its expansion in Asia

In line with its strategy of local growth for local in China, medmix has signed an investment agreement to acquire a majority stake in Guangdong Qiaoyi Plastic Co. LTD, a beauty products manufacturing company in Shantou.
This latest acquisition will enable medmix to strategically position itself as a player in the fast-growing beauty sector in China, the world's second-largest cosmetics market.
Qiaoyi, which employs around 350 people, is a long-standing manufacturer of a wide range of products for the beauty market, with a strong base of Chinese customers producing local cosmetics brands.
Qiaoyi's current owners will retain a minority stake in the company and continue to operate the business. This will enable medmix to leverage Qiaoyi's entrepreneurial spirit and in-depth market expertise, as well as access established relationships with local customers through its award-winning Geka applicators for local cosmetics brands.
The transaction is expected to close in the first half of 2023.
Girts Cimermans, CEO of medmix, said: " We continue to execute our local strategy for the local growth plan in China. China is the world's second largest beauty and personal care market, which is expected to grow strongly over the next few years. With the acquisition of Qiaoyi we will benefit from this market growth, broaden our customer base and improve our access to native Chinese brands for our wider product range.. "
This announcement follows recent signings between medmix and Valencia-based Universal de Suministros, S.L., as well as a long-term lease agreement for a new medmix facility near Atlanta, Georgia, USA, supporting all of the company's healthcare segments.

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