CS Company distributes Marc Jacobs, Calvin Klein, Dolce & Gabbana and Gucci
Trilogy International has acquired New Zealand distributor CS Company – the country's largest independent importer and distributor of fragrances, cosmetics and toiletries. The deal is said to be worth $37m.
CS Company distributes luxury fragrance brands including Marc Jacobs, Calvin Klein, Dolce & Gabbana and Gucci as well as cosmetics brands Max Factor, Natio and OPI. Its major suppliers include Coty, P&G and LVMH. It currently employs 56 people in Mangere, close to Auckland Airport. Ken Millar, current CEO of the company, who has committed to remaining with the business, said: "This is a good opportunity for CS Company and will be a key part of the business' next growth phase."
Geoff Ross, Chairman at Trilogy, said: "As a major player in the New Zealand beauty and cosmetics industry. CS complements our existing business, including very strong relationships with major retail partners and a national sales network as well as expertise in online sales and the international beauty and cosmetics industry generally."
CS Company is predicted to achieve revenue of $41m over the next financial year. The existing Trilogy business is said to be performing well, reporting net profit growth of 300% to $3.5m on forecast revenue of $23m over the next six months.
Ross added: "Because the business is already performing well, we don't plan to make any major changes through the earn out period. CS will operate as a stand-alone entity and existing management will report to a subcommittee of the Trilogy Board led by Stepen Sinclair."