Meiyume’s disinvestment leaves more room to develop turnkey operations
Italian health and beauty manufacturer Sodalis is building a stronghold in the European market with the takeover of four beauty brands from Meiyume.
UK brands Brisk, Rapid White and Triple Dry will transfer to the business as Sodalis invests in its British foothold.
Establishing its first subsidiary in Germany, Sodalis has also acquired the German arm of Meiyume’s Lornamead.
Meiyume, which is based in China, will keep hold of Lornamead’s US business, according to WWD.
The divestiture leaves Meiyume, part of the Fung group, with Simple, Cidal, Wrights, Vosene, Witch and Bristows in its UK portfolio.
“The move to divest the German Lornamead business and the UK brands follows a strategic review of Meiyume’s overall services and allows the beauty company to focus on providing packaging, turnkey, retail solutions and insights to help beauty players transform,” the company said in a statement.
Fabio Granata, Sodalis’ Chief Executive, meanwhile, said the takeover was a strategic move as it backs the swelling beauty markets in Europe.
“For us, this is another step toward our goal to become a strong personal care player throughout all the most strategic European countries,” he noted.
“We look forward to integrating the team and working together on new strategic moves to further grow in Germany and [the] UK.”