Beauty lab Knowlton Development Corp. — better known as KDC/One — and HCT Group are merging.
The goal is to create a one-stop shop for the beauty industry, complete with innovative formulations and a full spectrum of packaging and other services.
KDC provides a range of services to beauty companies, including custom product formulations, and has bought up several other beauty manufacturers over the past few years. HCT also provides cosmetic manufacturing services, including packaging, filling and logistics.
KDC, founded in 2002, has been backed by private equity firm Cornell Capital since 2018. The business has been building itself up through acquisitions, including Benchmark Cosmetic Laboratories Inc., acquired in November, and Swallowfield in the U.K., in July. HCT, headquartered in Santa Monica, Calif., and founded in 1992, has been focused on organic growth, and works with more than 400 customers globally.
“This transformative transaction will enhance how we serve beauty and personal-care brands around the world,” said Nicolas Whitley, president and chief executive officer of KDC, in a statement. “Our vertically integrated platform will offer the industry a true one-stop solution. With the support of our partners at Cornell Capital, as well as CDPQ, IQ and HarbourVest, we have been able to build our reputation
The goal is to create a one-stop shop for the beauty industry, complete with innovative formulations and a full spectrum of packaging and other services.
KDC provides a range of services to beauty companies, including custom product formulations, and has bought up several other beauty manufacturers over the past few years. HCT also provides cosmetic manufacturing services, including packaging, filling and logistics.
KDC, founded in 2002, has been backed by private equity firm Cornell Capital since 2018. The business has been building itself up through acquisitions, including Benchmark Cosmetic Laboratories Inc., acquired in November, and Swallowfield in the U.K., in July. HCT, headquartered in Santa Monica, Calif., and founded in 1992, has been focused on organic growth, and works with more than 400 customers globally.
“This transformative transaction will enhance how we serve beauty and personal-care brands around the world,” said Nicolas Whitley, president and chief executive officer of KDC, in a statement. “Our vertically integrated platform will offer the industry a true one-stop solution. With the support of our partners at Cornell Capital, as well as CDPQ, IQ and HarbourVest, we have been able to build our reputation