L Catterton has acquired a minority stake in US colour cosmetics brand Il Makiage for $29m.
The investment firm, which is formed by LVMH, Groupe Arnault and Catterton, will work with Il Makiage’s CEO Oran Holtzman to help the company enter the US market.
"When I acquired Il MAKIAGE a few years ago, I had a clear vision for the future – to build a global, professional, high-end makeup brand,” said Holtzman. “We have invested significant resources to further develop IL MAKIAGE, building a state of the art R&D division, enhancing our product offering, and creating a unique shopping experience in our mono-brand makeup boutiques.
"We are thrilled to partner with L Catterton and are confident that the firm’s unparalleled experience in building premium brands and global expertise make L Catterton the ideal partner for us. This significant investment indicates a tremendous expression of confidence in the brand, its positioning, the management team, and above all, the products and their uncompromising quality."
Il Makiage sells a variety of cosmetics products for eyes, lips and face. It is reported to operate 41 stores in Israel and five professional make-up colleges.
Current and past investments made by L Catterton include Bliss, Cover FX, CLIO Professional, Dr. Wu, Ideal Image, Intercos Group, Kopari, StriVectin and TULA.