verescence, world leader in packaging glass for the perfumery and cosmetics industries, has announced the acquisition of a majority stake in pacificglas (South Korea), the Korean leader of glass packaging in the cosmetic industry, and a long-term partnership with amorepacific.
For more than 120 years, Verescence has been a privileged partner of perfume and cosmetic brands. It produces 500 million containers a year at its three glass production plants and four decoration factories in Europe and North America. In 2019, the company employed 2.300 people worldwide and achieved sales revenue of € 309 million.
“We are delighted with the acquisition of a majority stake in Pacificglas and the long-term partnership with Amorepacific. This is an important step in our Strategic Plan, Verescence 2022. Amorepacific will become one of the main customers of the Verescence group and, with Pacificglas, Verescence will reinforce its leadership in high-end perfumery and cosmetic glass packaging. Building on this strong foundation, Verescence plans to become a pan-Asian leader and will invest in technology and capacity to meet the growing demand for high-end glass, ”he said. Thomas riou, CEO of Verescence.
