A major new international player is emerging in cosmetics packaging. Cosmogen, a French packaging specialist, has announced the acquisition of its Hong Kong-based competitor Asquan, an expert in premium, multi-category packaging with a strong foothold in the US market. The tie-up creates the Cosmogen&Asquan Group, an entity employing around 80 people and generating consolidated revenue of $50 million. The strategy behind this move is to create a global, agile partner, underpinned by a robust industrial network and capable of meeting every packaging need (skincare, haircare, make-up, fragrance) for both established brands and emerging players. This transaction aligns with Cosmogen’s roadmap, drawn up in late 2024 as part of its partnership with Weinberg Capital Partners, with the primary objective of accelerating growth. Bringing the two companies together is intended to create synergies. While Cosmogen excels in innovation and bespoke development (patents, specific applications), Asquan will contribute strong execution capabilities and a broader product range. The new group indicates it will maintain a ‘fabless’ operating model (without in-house manufacturing), leveraging an international industrial network to ensure speed and flexibility. The new entity will be led by Priscille Allais, currently Cosmogen’s CEO (formerly with L’Oréal and LVMH), who becomes group CEO. Henri Tinchant, founder of Asquan, becomes chief operating officer.
Both underline their shared ambition to push the boundaries of design and sustainability: the group is already highlighting its EcoVadis Gold ratings. “The acquisition of Asquan was an obvious choice, given the strong complementarity between our two companies,” says Priscille Allais. “This deal now enables us to become a global benchmark partner for global brands, while strengthening our environmental and social commitments.” The Cosmogen&Asquan Group will be able to draw on a combined portfolio of leading names in beauty and luxury, including LVMH, L'Oréal, Clarins, and Huda Beauty. The new structure will also benefit from a presence in Europe, the United States, Asia, and the Middle East.
Source: Read the original report | Published: May 21, 2026