The European Commission has approved, under the EU Merger Regulation, the acquisition of Pibinew S.r.l. of Italy by S.L.04 S.à. r. (“SL04”) of Luxembourg and Ambienta Sgr S.p.A. of Italy. Pibinew designs, manufactures, decorates and sells plastic packaging for the cosmetic industry. SL04 is a private equity firm indirectly controlled by L Catterton Partners of the US whose portfolio includes companies active in the production and sale of cosmetics and fragrance products. Ambienta is a private equity firm whose portfolio companies are not active in the cosmetic sector. Pibinew and L Catterton’s portfolio companies are active in vertically related markets, namely the production and sale of cosmetic packaging, and the supply of cosmetic and fragrance products, respectively. However, the companies’ individual market shares in these vertically related markets are modest and a number of strong players would remain post-transaction in both markets. Therefore, the Commission concluded that the proposed acquisition would raise no competition concerns. The transaction was examined under the simplified merger review procedure. More information is available on the Commission’s competition website, in the public case register under the case number M.9004. (For more information: Ricardo Cardoso – Tel.: +32 229 80100; Giulia Astuti – Tel: +32 229 55344).
Source: European Commission