VERESCENCE announced that Stirling Square Capital Partners has entered into exclusive negotiations with funds managed by Oaktree Capital Management to acquire its entire stake in the Company.

VERESCENCE is the global market leader in glass packaging manufacturing for the perfumery and cosmetics industry. With a know-how of over 120 years, VERESCENCE has become a key partner of the most famous brands in the beauty industry. Across its 3 glass production and 4 decorations facilities in Europe and North America, the Company produces over 500 million bottles every year. In 2017, VERESCENCE employed 2,300 people across the globe and registered sales of over 280 million Euros.

Thomas Riou, CEO of VERESCENCE, commented: “We are grateful to Oaktree for their support in helping us develop the business and accelerate the Company’s growth. The potential arrival of Stirling Square Capital Partners as new shareholder is in line with our strategy, in particular supporting us in the implementation of our transformation and investment plan and enabling exciting new growth opportunities going forward. We are convinced that this transaction would greatly benefit our employees in France and across the globe, as well as our customers and partners.”

Verescence, the world leader in glass bottles for the Fragrance and Cosmetics industry, has been awarded the GOLD level, by the environmental rating agency EcoVadis for its social and environmental practices. The GOLD level is the highest recognition from EcoVadis.

Verescence ranks among the TOP 1% of the companies assessed by EcoVadis in 2018 across all industry sectors. All its manufacturing sites located in France, Spain and the USA also obtained the GOLD award.

The rating agency, EcoVadis, specializes in Corporate Social Responsibility (CSR) and assesses more than 50,000 companies on the basis of 21 criteria around four themes: environment, labor and human rights, business ethics and sustainable procurement.

Verescence CEO Thomas Riou stated, “This recognition rewards the efforts of our group and our plants in CSR, an area to which we have been committed for many years. Since pioneering the first eco-designed and recyclable Infinite Glass bottle in 2008, we have continuously worked to improve our practices to set an example as the global leader in our industry.”

Verescence, which has just published its CSR Report focuses its long-term actions on three pillars: People First, Act for Society and Eco Solutions. The group’s CSR strategy labelled, Glass Made to Last, is based on the 17 objectives set out by the United Nations. The report details both the initiatives carried out, but also the objectives for 2020, while positioning itself in a transparent way for the expectations of the GRI (Global Reporting Initiative).

With its strong global footprint, the group emphasizes partnerships with local market players in an eco-sustainable approach and is focused on preserving local jobs.

As a responsible employer, Verescence considers it a priority to invest in developing its employees’ skills and expertise though various societal initiatives (supporting glass school, ongoing training…) and to encourage diversity.

To support its clients’ responsible procurement requirements, the group developed, in 2017, the first benchmarking tool for the environmental impact of its products following the method of the Life Cycle Analysis (LCA). Fully committed to eco-responsible luxury products, Verescence will participate in a conference on ‘Sustainable development and value creation’ alongside Guerlain and other partners, on October 2nd during LUXE PACK in Monaco.

This is just a selection of speakers and programs scheduled over this exciting three day event.

LUXE PACK LOS ANGELES – February 27-28, 2019, BARKER HANGAR, SANTA MONICA

LUXE PACK SHANGHAI – April 10- 11, 2019, SHANGHAI EXHIBITION CENTER

LUXE PACK NEW YORK – May 15-16, 2019, PIER 92

For more information or to register, please visit: www.luxepack.com