(Bloomberg) — Puig, the Spanish company within the aid of Paco Rabanne perfumes, agreed to set apart film monumental name make-up value Charlotte Tilbury so that you just may add long-established merchandise including Magic Cream moisturizer and Pillow Focus on lipstick.
Puig will set apart a majority stake within the impress, basically based mostly mostly on a observation Thursday. Financial exiguous print were no longer disclosed.
Household-owned Puig, which relies mostly in Barcelona, teamed up with Byron Trott’s investment company BDT Capital Companions on the acquisition. Charlotte Tilbury, a London-born make-up artist who based mostly her namesake value in 2013, plans to retain a minority stake within the industry.
The transaction reveals that super user companies peaceable beget an shuffle for food to rob self sufficient brands preferred by youthful possibilities, with out reference to the coronavirus pandemic that’s ended a decade-prolonged boost in dealmaking. Puig beat out competition from Unilever, L’Oreal SA, Estée Lauder Cos. and Jap elegance company Shiseido Co., Bloomberg News has beforehand reported.
Charlotte Tilbury, who grew up round inventive kinds on the Spanish island of Ibiza, made her name working with supermodels equivalent to Kate Moss and actresses including Penelope Cruz. The company bought an investment from endeavor capital company Sequoia Capital in 2017.
Puig, which sells Jean Paul Gaultier and Nina Ricci fragrances, reported 2018 gross sales of 1.9 billion euros ($2.1 billion) and is uncover in better than a hundred and fifty countries, basically based mostly mostly on its web drawl.
The deal is moreover a rare instance of a predominant Brit