Owned by the Oaktree investment group in Los Angeles, France-based Ileos says the purchase will allow it to strengthen its position in the US market.
"This acquisition reinforces Ileos's leadership in the full service and manufacture of unidose and samples for the fragrance and cosmetics industry through its dedicated division Bioplan," the company states.
With 120 employees and two production sites located in New-Jersey, Le Papillon posted a turnover of US$49 million in 2012, with strong continued growth.
Ileos, managed by Pierre Hémar, employs 4,000 people in 14 locations around Europe, in the US, Brazil and China, and expects to record a turnover of €350 million for 2012 - forecast to be €388 million after the integration of Le Papillon.
Le Papillon president Watson Warriner says: "I am very pleased to have this partnership with such a strong and renowned Group.
"It brings an international perspective to Le Papillon that complements its existing position in the United States and gives significant potential for further Innovation."
