Celebrity Beauty: Makeup Brand Charlotte Tilbury Nears Sale for $1 Billion

Celebrity Beauty: Makeup Brand Charlotte Tilbury Nears Sale for $1 Billion

Celebrity Beauty:

(Bloomberg) — Massive identify makeup put Charlotte Tilbury is nearing a sale to Puig, the Spanish firm in the relieve of Paco Rabanne perfumes, in a deal valuing the alternate at bigger than $1 billion, folk aware of the topic mentioned.

An settlement to lift U.K.-basically based entirely Tilbury may possibly perhaps well be announced as early as this week, mentioned the folk, who requested no longer to be identified because discussions are non-public. Puig, which additionally sells Jean Paul Gaultier and Nina Ricci fragrances, is in talks to team up with Byron Trott’s funding firm BDT Capital Companions on the acquisition, the folk mentioned.

Charlotte Tilbury is a London-born makeup artist who basically based her namesake put in 2013. She plans to take care of up a minority stake in the alternate, which is illustrious for merchandise much like Magic Cream moisturizer and Pillow Talk lipstick, the folk mentioned. If a deal is finalized, Puig may possibly perhaps almost definitely non-public beaten out competitors from consumer giants in conjunction with Unilever, per the folk.

A a hit transaction would demonstrate that mountainous consumer companies quiet non-public an appetite to lift impartial brands appreciated by youthful consumers, no topic the coronavirus pandemic that’s ended a decade-long increase in dealmaking. L’Oreal SA, Estée Lauder Cos. and Jap beauty firm Shiseido Co. additionally expressed hobby in an acquisition of Tilbury, Bloomberg Data has previously reported.

No appropriate choices had been made, and the talks may possibly perhaps well quiet be delayed or disintegrate, they mentioned. Representatives for Puig, Charlotte Tilbury and BDT didn’t acknowledge to requests for observation. A representative for Unilever declined to observation.

Any deal would divulge a uncommon instance of a indispensable British alternate supplied in an auction direction of since the coronavirus outbreak. After KKR & Co.’s 4.2 billion-pound ($5.2 billion) acquisition of U.K. damage management provider Viridor Ltd. in March, a total lot of sale processes had been shelved. Walmart Inc. build its planned disposal of the Asda supermarket chain on preserve to point of curiosity management’s consideration on responding to the disaster, folk with recordsdata of the topic mentioned in April.

Charlotte Tilbury, who grew up spherical ingenious kinds on the Spanish island of Ibiza, made her identify working with supermodels much like Kate Moss and actresses in conjunction with Penelope Cruz. The firm got an funding from enterprise capital firm Sequoia Capital in 2017.

(Updates with background on U.K. dealmaking in sixth paragraph)

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