• About
  • Privacy & Policy
  • Contact Us
Procurement Nation
  • Home
  • Suppliers
  • Procurement
    • Shipping
    • Best Procurement Software
    • Supply Chain
      • What is supply chain management?
      • Tyson Foods Food Supply Chain
  • Markets
  • Banking
  • Cryptocurrency
  • Contact Us
No Result
View All Result
  • Home
  • Suppliers
  • Procurement
    • Shipping
    • Best Procurement Software
    • Supply Chain
      • What is supply chain management?
      • Tyson Foods Food Supply Chain
  • Markets
  • Banking
  • Cryptocurrency
  • Contact Us
No Result
View All Result
Procurement Nation
No Result
View All Result

Exclusive: Beauty industry supplier Knowlton readies IPO – sources

Mark White by Mark White
August 29, 2021
in Suppliers
0


(Reuters) – Buyout firm Cornell Capital is preparing a U.S. initial public offering (IPO) of Knowlton Development Corp (KDC), which could value the manufacturer and custom formulator of products for the beauty industry at more than $5 billion, according to people familiar with the matter.

Cornell Capital has hired Goldman Sachs Group Inc to lead KDC’s IPO, which may raise around $750 million and come later this year, the sources said, requesting anonymity as the matter is private.

The sources cautioned that the IPO plans are subject to market conditions. Cornell Capital and Goldman Sach declined to comment.

Longueuil, Québec-based KDC, operates under the brand name KDC/ONE, and provides manufacturing and packaging services to beauty and personal care companies.

The IPO plans come at a challenging time for the $500 billion global beauty industry, as people stay home during the COVID-19 pandemic. This has affected demand for makeup products, though the personal care sector, which includes products such as bath soap and shampoo, has performed better.

Industry executives have talked about a broader recovery for the sector once COVID-19 vaccines are largely available.

Cornell led an investor group to buy KDC in 2018 and since then has purchased a string of add-on companies to help expand it, including HCT Group and Zobele Group.

Reporting by Joshua Franklin in Miami; editing by Jonathan Oatis



Source link

Previous Post

As shakes and chicken go off the menu, firms urge UK to act

Next Post

Delta Air orders 30 A321neo jets from Airbus

Mark White

Mark White

Mark White is the editor of the ProcurementNation, a Media Outlet covering supply chain and logistics issues. He joined The New York Times in 2007 as an commodities reporter, and most recently served as foreign-exchange editor in New York.

Next Post
Delta Air orders 30 A321neo jets from Airbus

Delta Air orders 30 A321neo jets from Airbus

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • About
  • Privacy & Policy
  • Contact Us
Call us: +1 234 JEG THEME

© 2021 Procurement Nation - Supply Chain & Logistics News

No Result
View All Result
  • Procurement
  • Supply Chain
  • Logistics
  • Science
  • Technology

© 2021 Procurement Nation - Supply Chain & Logistics News