Companies announce a binding agreement, financial terms of which have not been disclosed
Italian cosmetics manufacturer Intercos and US private equity firm Catterton have announced a binding agreement under which Catterton will acquire a significant minority stake in Intercos. Financial terms of the transaction have not been disclosed.
Dario Ferrari, Founder and CEO of Intercos, said, “We are thrilled to partner with Catterton as Intercos continues to expand its presence in the global beauty and cosmetics industry. Catterton brings proven expertise, decades of experience in the personal care industry and new resources that will enable us to accelerate our international development strategies, including further expansion in the US and China. Intercos prides itself on setting the standard for innovation in the beauty industry and we are excited to partner with Catterton for this next phase of growth.”
“Catterton identified Intercos as the leading supplier to the cosmetics and beauty category with an operating profile that is the gold standard in the industry,” said Nik Thukral, Senior Partner at Catterton. “Intercos brings a highly differentiated set of capabilities to the industry, reflective of its broad product portfolio, global footprint, deep management talent and emphasis on research and product innovation. We are excited and look forward to partnering with Intercos and building on its global leadership, particularly in the US, China and Latin America.”