January 9, 2023
In line with its local-for-local growth strategy in China, medmix has entered into an investment agreement to acquire a majority stake in Shantou-based beauty manufacturing company Guangdong Qiaoyi Plastic Co. LTD.
This latest acquisition strategically positions medmix as a player in China’s beauty sector, the world’s second-largest rapidly growing cosmetics market.
With about 350 employees, Qiaoyi has been manufacturing a wide range of products for the beauty market for many years, and its strong customer base in China has spawned local cosmetic brands.
Qiaoyi’s current owners will retain a minority stake in the company and continue to operate. This will give medmix access to his award-winning GEKA applicators and established local customer relationships for local beauty brands, leveraging his Qiaoyi entrepreneurial spirit and deep market expertise. increase.
The transaction is expected to close in the first half of 2023.
Girts Cimermans, CEO of medmix, said: Qiaoyi will benefit from this market growth, expanding its customer reach and improving access to native Chinese brands for a wider range of products. ”
Qiaoyi’s operating facility in Shantou, Guangdong, China
The announcement follows the recent signing between medmix and Valencia-based Universal de Suministros, SL, and the long-term lease of a new medmix facility near Atlanta, Georgia, USA, across all segments of the company’s healthcare business area. support.
About Medmix
medmix is a global leader in precision delivery devices. The company holds leading positions in healthcare, consumer and industrial end markets. Our customers benefit from our dedication to innovation and technological advancement that has resulted in over 900 active patents. With 15 production sites worldwide and his highly motivated and experienced team of nearly 2,000 employees, we offer our customers uncompromising quality, proximity and agility. medmix is headquartered in Baar, Switzerland. Our shares are traded on the SIX Swiss Exchange (SIX: MEDX). www.medmix.swiss
inquiry:
Media Relations: Peter Trampert, Senior Communications Manager
communication@medmix.com
Investor Relations: Head of Investor Relations Sheel Gill
Investorrelations@medmix.com
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