As it expands its global capabilities, Knowlton Development Corporation (KDC/ONE), a provider of custom formulation and manufacturing solutions for beauty, personal care and household brands, has announced an agreement to acquire Shanghai Paristy Daily Chemical Co., Ltd. (Paristy), a leading custom formulator and manufacturer of color cosmetic products, based in Shanghai, China. Financial terms of the transaction were not disclosed.
 
This strategic acquisition, which is expected to close in the first quarter of 2020, is the company’s first in Asia, and KDC/ONE says it further underscores their commitment to providing vertically integrated custom formulation and innovative manufacturing and packaging solutions to its customers in Asia and brand partners around the world.
 
16 state-of-the art facilities worldwide
Established in 2002, KDC/ONE has grown organically and through acquisitions to become a leading custom formulator and manufacturer. With 16 state-of-the art facilities in North America, Europe and Asia, KDC/ONE offers high-touch innovation, operational excellence and speed to market to well-known and emerging brands. 
 
Backed by Cornell Capital, which acquired KDC/ONE in December 2018 together with Caisse de dépôt et placement du Québec, Investissement Québec and HarbourVest Partners, KDC/ONE has nearly doubled the size of the company over the past year, adding new technologies and expanding globally across North America, Asia and Europe, and successfully integrating three acquisitions. 
 
Merger with HCT Group
Most recently, KDC/ONE announced its agreement to merge with HCT Group, creating an innovative, end-to-end solutions provider for customers ranging from Fortune 500 companies to indie, emerging and prestige brands.
 
Paristy will operate two facilities 
With expertise in powder, lip, face and liquid cosmetic products, and a strong legacy of serving emerging prestige and mass market beauty brands dating back to the 1960s, Paristy has become a trusted partner to leading brands in North America and Europe, in addition to the local Chinese market. Led by Jerome Shen, Angel Luo and a dynamic team of product development and manufacturing professionals, the company’s global footprint is complemented by its reputation for quality and service. Paristy will operate two best in class facilities, including an innovative, state-of-the art R&D and innovation center in Taiwan, and a manufacturing base in mainland China.
 
“We are pleased to welcome Paristy into the KDC/ONE family as our first wholly-owned Asia-Pacific manufacturing hub, enhancing our ability to serve the needs of our global Prestige Beauty clients and an increasingly diverse and global customer base,” said Henry Cornell, Founder and Senior Partner of Cornell Capital. “With more than 50 years of history in Asia and with a shared commitment to bringing cutting edge innovation and high-quality manufacturing capabilities to its customers, Paristy is the ideal partner with which to expand KDC/ONE’s operational footprint in China.”
 
“KDC/ONE’s track record of innovation and its dedication to delivering value added services to brands has set it apart in North America and Europe, and we look forward to the opportunity to play a key role in the expansion and growth of its presence in the Asia market,” said Jerome Shen, president of Paristy who will continue as managing director of Paristy under the KDC/ONE leadership. “We view this transaction as a positive for our team as we join the KDC/ONE group, and for our customers, who will benefit greatly from the broader platform this creates for our current technologies and manufacturing capabilities.”
 
“KDC/ONE is excited by all of the new possibilities that this combination will bring the company. Paristy has proven capabilities in the formulation and manufacture of both pressed and wet powder, as well as other innovative color cosmetic products including concealer, primer and foundation,” said Nicholas Whitley, president and CEO of KDC/ONE. “The addition of Paristy to KDC/ONE reaffirms our commitment to providing our solutions to our loyal customers in Asia and brand partners worldwide and we look forward to working closely with Jerome and his impressive team.”
 
“This is an exciting milestone for KDC/ONE as the company establishes itself in Asia,” said Joyce I-Yin Hsu, partner and head of Asia for Cornell Capital, backers of KDC/ONE. “We continue to see significant opportunity in the region and are confident that this acquisition will further enhance KDC/ONE’s platform for customers around the world. I am proud of our team in Asia, who has been instrumental in building the relationship between Paristy and KDC/ONE, and look forward to all that is ahead for this fast-growing and innovative platform.”

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