American equity fund Catterton acquires stake in Italian company Intercos

By

Dominique Muret

Published
Dec 17, 2014

Intercos, which is among the leading global developers, manufacturers and distributors of cosmetics, working with major players in the cosmetics industry such as Lancôme and Procter & Gamble, is the subject of an investment by a major player. American private equity fund Catterton, "has acquired a significant minority stake in Intercos”, the company announced in a statement. Details of the transaction remain undisclosed.

Earlier this year, the company, which was founded in 1972 by Dario Ferrari, took steps to go public but, in October, it abandoned these plans due to difficult market conditions. 

Initially, Intercos, which generates a turnover of around 498 million dollars (317 million pounds), and which is considered one of the most dynamic Made in Italy companies, planned on listing 40% of its capital. 

The founder and CEO of Intercos, Dario Ferrari, will continue to lead the company. He will also purchase the 17.94% stake held by Tamburi Investment Partners (Tip) in Dafe 4000, the holding company that owns 41.17% of Intercos. 

"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 United States and China," said Ferrari. 

For Catterton, which is headquartered in Greenwich, Connecticut, this is its first operation in Italy. The fund, which manages more than 4 billion dollars (2.5 billion pounds) , specializes in the consumer sector. Notably, it owns a stake in French crystal manufacturer Baccarat.