Pérez-Llorca advises Quadpack Industries on its sale to PSB

French company PSB Industries, the parent of cosmetic packaging firm Texen, has announced its acquisition of Catalan-based Quadpack, aiming to become one of the top five global manufacturers of cosmetic packaging. The deal, valued at approximately €140 million, will see Quadpack, listed on Euronext Growth Paris, absorbed into the PSB Group, creating a combined entity with sales of €350 million and a workforce of 2,000 employees, including 800 from the Spanish firm.

PSB has priced Quadpack’s shares at €32 each, effectively doubling the company’s current market capitalization of €16 per share. The acquisition will result in the buyout of minority shareholders, who hold 12% of Quadpack’s shares, while the company’s founders—Tim Eaves, John McDermott, and Philippe Lenglart—will become significant stakeholders in the new parent company.

Despite the merger, both Quadpack and Texen will continue to operate as independent brands to preserve their distinct cultures and strengths. The transaction is expected to close in September or October, pending regulatory approvals. PSB Industries plans to implement a growth strategy that leverages the complementary synergies and infrastructures of both companies, focusing on sustainable transformation and enhancing their global market position in cosmetic packaging. The combined entity will have an industrial presence in six countries and commercial operations across Asia, Europe, and the Americas.

The merger aims to deliver enhanced value and services to beauty brands, with Texen providing customized packaging solutions for the luxury makeup and fragrance markets from its facilities in France, Poland, Mexico, and the United States. Quadpack, headquartered in Barcelona, offers standard packaging solutions for the prestige cosmetics and makeup sectors, supported by manufacturing plants in Germany and Spain and a robust sales network in Europe, the United States, and Australia.

Pérez-Llorca advised the catalan company in the transaction, with a team led by corporate partners Carmen Reyna (pictured left) and Teresa Méndez (pictured right), along with corporate lawyers Borja Gil-Casares and Fernando Guerra.