With funding from the Caisse de dépôt et placement du Québec and other institutional investors, Knowlton Development Corp., a personal care product manufacturer based in Longueuil, Que., has acquired Thibiant International Inc.

Read: Caisse and partners to acquire U.S. plastic packing producer for US$35M

Thibiant, which is based in California, manufactures personal and skin care products, and offers product development services, quality control services, and research and development. The company has 285 full-time employees.

“With this acquisition, [KDC’s parent company] Novacap and its institutional partners are living up to their promise of doubling the size of the company and hitting the billion-dollar mark in annual sales over the next three to five years,” said Michel Côté, KDC chairman and Novacap senior partner, in a release.

Read: Caisse, PSP invest in global advisory firm AlixPartners

Copyright © 2020 Transcontinental Media G.P. Originally published on benefitscanada.com

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