Nihon Kolmar, Japan’s largest cosmetics ODM/OEM manufacturer, has acquired 100% of Tokiwa Cosmetics Group from global investment firm Carlyle.
Nihon Kolmar purchased the shares together with its wholly owned subsidiary TOA Corporation. The financials terms of the transaction were not disclosed.
Carlyle acquired Tokiwa in 2019 with the aim to establish it as a leader in the cosmetics manufacturing industry. Founded in 1948 and headquartered in Nakatsugawa, Gifu Prefecture, the company is engaged in the research, development and manufacturing of cosmetic products and is a major supplier to the global cosmetics industry, mostly in the especially in the makeup category. The business has approximately 400 patented technologies worldwide, and supplies to leading beauty brands through factories in Japan, the USA, and China.
According to Nihon Kolmar, the operation will combine two “highly complementary” businesses and help build “a competitive production system not only in Japan but also in the global market.”
“Our group is the largest cosmetics contract manufacturer in Japan, which has been in the cosmetics business for over a century since its founding in 1912, supported by many business partners. Currently, we have established a system capable of producing all types of cosmetics, including skin care, makeup, and hair care, and we are able to meet the needs of various business partners. Going forward, we would like to work together with Tokiwa’s employees and management to create a sustainable future as a Japanese corporate group that takes on the world,” said TOA’s President, Yoshihide Kanzaki, in a statement.
The closure of the transaction is subject to approval by Japan’s antimonopoly authorities.
