PARIS — PSB Industries, a packaging specialist for the cosmetics and pharmacy businesses, said Monday that exclusive negotiations with Pochet Group for the acquisition of its Qualipac plastic and metal division have ended.
“This is due to the COVID-19 crisis, which substantially modified the initial context of the transaction and did not allow an agreement to be reached,” PSB Industries said in a statement.
The exclusive talks had been announced in early February. Terms of the possible deal were not disclosed at the time, when PSB said “the envisaged transaction represents a major strategic move for the development and reinforcement of PSB Industries’ Luxury & Beauty business unit.”
France-based PSB Industries last year registered sales of 266 million euros, half of which were generated outside of its home market. The group has production facilities in France, Poland, the U.S. and Mexico.
Qualipac generated sales of 239 million euros worldwide in 2019. The French group, which counts 2,300 employees, specializes in the transformation and decoration of plastics, aluminum and Zamak for packaging used in the perfumery, makeup and skin-care categories.