The brand will continue to operate from its base in Vienna, Austria
Private label manufacturer Maesa Group has acquired beauty brand p2 Cosmetics, which is sold exclusively through German drugstore retailer DM.
The brand will continue to operate from its Vienna, Austria base under its current management. It is hoped the acquisition will broaden Maesa’s global footprint; p2 is currently sold in 1,800 DM stores across Germany.
Gregory Mager, Founder and CEO of Maesa Group, said: “p2 Cosmetics has a proven track record of bringing innovation to the cosmetic category. This brand has piqued a strong interest for expansion in the US and Canada through an exclusive distribution model. I am excited for one of the most successful exclusive beauty brands in the world to join Maesa Group and I look forward to continuing to grow the partnership with DM.”
P2 will join Maesa’s growing portfolio of beauty brands including Flower for Walmart, Circa for Walgreens and Elle for Monoprix.
The acquisition was financed through unirate debt provided by Tikehau Investment Management and a capital increase subsidised by Maesa’s founders. Edmond de Rothschild’s stake in Maesa will rise from 20% to 25% after the acquisition. Co-founders Gregory Mager and Julien Saada will remain majority shareholders.
Maesa’s total revenues are predicted to reach $185m in 2015 following the takeover of p2.