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CORE Industrial Partners Portfolio Company Arizona Natural Resources Acquires Contract Filling Inc.

CORE Industrial Partners (“CORE”), a Chicago-based private equity firm, today announced the acquisition of Contract Filling Inc. (“CFI” or the “Company”), a specialized contract manufacturer of high-end fragrances, deodorants and cosmetic products, by CORE portfolio company Arizona Natural Resources (“ANR”), based in Phoenix, Arizona. The acquisition solidifies ANR’s position as one of North America's largest manufacturers 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 provides a full range of compounding, filling, and packaging solutions for a loyal base of major cosmetic brands and luxury fragrance houses. The Company’s product offering includes perfume, cologne, hairspray, body mists, and deodorant. In addition, CFI is one of the few manufacturers in the United States with the unique facility specifications, advanced manufacturing equipment, and safety certifications required 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 across four manufacturing facilities in Arizona, California, Nebraska, and New Jersey. The combination will expand ANR’s product portfolio in the high-end fragrance category and enable the platform to serve a broader range of personal care and beauty applications across a wide spectrum of unit sizes.

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

Christine Staples, CEO of ANR, said, “ANR is continuing our expansion in the personal care and beauty market, and we continue to actively invest in the infrastructure, technology and human expertise needed to become the manufacturer of choice in this growing industry. I am excited about this opportunity to redefine the contract manufacturing industry and lead ANR in its next phase of success. With CFI, we have expanded our ability to serve customers worldwide 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.


CORE Industrial Partners is an industrials-focused private equity firm with more than $700 million of capital investing 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 lasting results.

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Contract Filling Inc. (“CFI”) is a premier contract manufacturer of alcohol-based personal care products with extensive compounding, filling, and packaging capabilities. CFI’s product offering includes perfume, cologne, hairspray, body mist, and deodorant sticks. With flexible long and short-run production capabilities, CFI has the expertise and equipment to fill container sizes ranging 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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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 speed to market through concept & formula development support. With locations in Arizona, California, Nebraska, and New Jersey, the Company operates out of four FDA-registered cGMP compliant facilities with more than 800,000 sq. ft. of manufacturing space.

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