As of the 8th January 2016, HCP and private equity investor TPG Capital have reached a definitive agreement whereby Baring Private Equity Asia (“Baring Asia”) has acquired 100% of TPG Capital’s stake in HCP.
The last three years have been a period of transformative growth for HCP. With TPG’s world-class operational expertise and resources, HCP have become one of the world’s largest primary packaging company for colour cosmetics and skincare products. HCP are now preparing to advance to the next phase of development and take the business to the next level.
After careful consideration, the Board of Directors, management team and Group President and Chief Executive Officer Eddy Wu have concluded that Baring Asia is the right partner for that journey. It is among the most established independent private equity firms in Asia with experience and ambitious goal in investing globally.
It also has well established teams of both financial and operational experts who can support HCP’s future growth. The management team and Mr Wu are extremely confident in its ability to support HCP in reaching the next level.
Mr Wu would like to thank customers for their continued support of HCP and their valued partnerships. He would also like to assure customers that notwithstanding this change of ownership, it is business as usual and HCP will ensure no disruption of service with this change.
HCP would like to thank customers again for their continued support and trust in HCP and look forward to continuing and strengthening successful long-term business relationships.