Private equity fund manager Avallon has signed an agreement to acquire 100 percent of Poland-based cosmetics manufacturer MPS International, together with the company’s management, from Sweden-based holding company MPS Holding. The transaction was structured through Avallon MBO Fund II. MPS International will continue to focus on manufacturing cosmetics and household cleaning products under private labels and on the production of packaging. The company also intends to pursue further growth in Poland and in Western and Eastern European markets. Financial details of the transaction were not disclosed.