Perfume Holdings, a subsidiary of private equity fund Investindustrial, has reached an agreement to acquire 72% of C&T company Selective Beauty. CB Holding, a new company controlled by Selective Beauty chairman Corrado Brondi, will retain the remaining 28%.
Investindustrial, a leading southern European investments group with approximately €2.1bn of assets under management, also acquired Morris Profumi from Henkel in February 2007. Another of its subsidiaries recently took over luxury toiletries company Atkinsons.
Selective Beauty, which was founded in 2000 by Brondi and Christophe Cervasel, has net sales of €180m. The French based company distributes brands like Agent Provocateur, Bulgari, Burberry, Chopard, Ferragamo, Lanvin and Lolita Lempicka.
The transaction is expected to be complete in June 2008.