CORE Industrial Partners acquires portfolio company Arizona Natural Resources Contract Filling Inc.

Chicago–(business wire—CORE Industrial Partners (“CORE”), a Chicago-based private equity firm, today announced the acquisition of Contract Fill Inc. (“CFI” or the “Company”), an exclusive contract manufacturer of high-end fragrances, deodorants and cosmetics. Products, a CORE portfolio company of Arizona Natural Resources (“ANR”), based in Phoenix, Arizona. The acquisition strengthens ANR’s position as North America’s largest manufacturer of personal care and beauty products.

Founded in 1983 and headquartered in Cedar Grove, New Jersey, CFI is a well-established contract manufacturer of fragrances and deodorants with nearly four decades of experience. CFI offers a complete range of compounding, filling and packaging solutions for a loyal base of leading cosmetic brands and luxury fragrance houses. The company’s product offering includes perfumes, colognes, hairsprays, body mists and deodorants. In addition, CFI is one of the few manufacturers in the United States with the unique facility specifications, advanced manufacturing equipment, and safety certifications necessary to produce alcohol-based personal care products.

CFI represents the fourth addition to CORE’s ANR platform. Together, CFI and ANR have more than 800,000 square feet of production space and 70 filling lines at four manufacturing facilities in Arizona, California, Nebraska and New Jersey. The combination will expand ANR’s product portfolio into the high-end fragrance category and enable the platform to serve a broad range of personal care and beauty applications across a broad spectrum of unit sizes.

Frank Papa, Senior Partner at CORE, said, “The acquisition of CFI furthers CORE’s vision of building a leading beauty and personal care contract manufacturing franchise serving established and emerging brands. Additionally, CFI is highly complementary to the ANR platform, expanding our geographic reach with our presence on the East Coast and expanding our product portfolio with the addition of fragrances and deodorants. We are pleased to add CFI to ANR and will continue to make complementary acquisitions as we build our nationwide platform.”

ANR CEO Christine Staples said, “ANR continues our expansion into the personal care and beauty market, and we continue to actively invest in the infrastructure, technology and human expertise necessary to become the manufacturer of choice in this growing industry. I am redefining the contract manufacturing industry.” I am excited about this opportunity to do and lead ANR in its next phase of success. With CFI, we have expanded our ability to serve customers globally and offer unmatched product innovation, formulation expertise, and manufacturing and logistics services.

Norton Rose Fulbright provided legal representation to CORE and ANR in the transaction.

About the main industrial partners:

CORE Industrial Partners is an industrial-focused private equity firm with over $700 million in capital investments in North American lower middle-market manufacturing, industrial technology and services businesses. CORE’s team is comprised of highly experienced former CEOs and investment professionals with shared beliefs, deep experience, and a proven track record of building market-leading businesses. Through our capital, insight, and operational expertise, CORE partners with management teams and strives to build best-in-class companies with sustainable results.

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About Contract Filling Inc.:

Contract Filling Inc. (“CFI”) is a leading contract manufacturer of alcohol-based personal care products with extensive compounding, filling, and packaging capabilities. CFI’s product offering includes perfumes, colognes, hairsprays, body mists, and deodorant sticks. With flexible long and short run production capabilities, CFI has the expertise and equipment to fill container sizes from 0.5 mL – 32.0 fl oz. CFI was founded in 1983 and operates out of a highly specialized 145,000 square foot facility located in Cedar Grove, New Jersey.

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About Arizona Natural Resources:

Arizona Natural Resources (“ANR”) is a leading full-service contract manufacturer, formulator, and distributor of customized hair care, skin care, fragrance, and cosmetic products. ANR’s turnkey services include formulation, batching, filling, quality assurance, packaging, and distribution. ANR specializes in helping emerging brands accelerate to market through concept and formula development support. With locations in Arizona, California, Nebraska, and New Jersey, the company operates four FDA-registered cGMP compliant facilities with more than 800,000 square feet of manufacturing space.

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