French perfumery and cosmetics glass packaging manufacturer Verescence is about to change ownership.

The company’s owner Oaktree Capital Management has entered exclusive negotiations with UK-based private equity group Stirling Square Capital Partners to acquire its entire stake in the company.

Verescence has a 120-year history and owns three glass production and four decorations facilities in Europe and North America. It produces more than 500 million bottles every year.

In 2017 the company employed 2,300 people across the globe and registered sales of €280 million.

Thomas Riou, CEO of Verescence, said: “The potential arrival of Stirling Square Capital Partners as new shareholder is in line with our strategy, in particular supporting us in the implementation of our transformation and investment plan and enabling exciting new growth opportunities going forward.

Pictured: The Verescence site in Mers-les-Bains, France