BERLIN — German color cosmetics firm Schwan-Stabilo Cosmetics has taken over Cosmolab Inc.
Lewisburg, Tenn.-based Cosmolab will continue to make cosmetics pencils from its current headquarters and it is expected to have total revenues of $40 million this year, according to Schwan-Stabilo.
Cosmolab, which was in bankruptcy proceedings, was acquired by Schwan-Stabilo through its All4 Cosmetics Inc. subsidiary.
“Cosmolab’s specific know-how and the production capacity fit perfectly into Schwan-Stabilo Cosmetics’ portfolio,” stated Ulrich Griebel, Schwan-Stabilo Cosmetics’ managing director. “We are confident to secure Cosmolab’s existence and its 300 positions for the long term through its incorporation into the very well organized Schwan group.”
A new management team will be installed, including Holli Montgomery, who served as Cosmolab’s chief executive officer from 1999 to 2006, and production technology will be updated.
Schwan-Stabilo is a private-label partner of numerous cosmetics companies including Revlon and Chanel, and has no brand of its own. The Schwan-Stabilo group, which includes writing instruments and sports equipment in addition to cosmetics, reported total 2008-09 fiscal year revenues of 370 million euros, or $502.7 million at average exchange. The company has about 3,500 employees, and is said to have brought the first cosmetics pencil to market in 1927.