Major stake acquired in South Korean glassmaker

Major stake acquired in South Korean glassmaker

Verescence, a leader in luxury glass packaging for the perfumery and cosmetics industries, has confirmed the acquisition of a majority stake in Pacificglas, the Korean leader for glass packaging in the cosmetics industries and a long-term partnership with Amorepacific.

For over 120 years, Verescence has been a partner of leading perfume and cosmetics brands due to its extensive knowhow and expertise.

The company produces 500 million bottles per year at its three glass production and four decoration sites in Europe and North America. In 2019, the company employed 2300 people worldwide and achieved sales of €309 million.

Pacificglas, a subsidiary of global cosmetics company Amorepacific, is a top level cosmetics container manufacturer established in 1973.

It has contributed to the growth of the Korean beauty industry. With excellent bottle design, mould design, bottle making and decoration technologies and manufacturing facilities, the company has supplied over 2000 types of glass bottle to nearly 110 cosmetics companies in and outside Korea every year.

www.verescence.com

Published: 
04/03/2021

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