The founders of one of Poland’s fastest growing cosmetics brands Bielenda Kosmetyki have sold a portion of their existing shares to private equity firm Innova Capital.
The move will help the expanding beauty brand finance its acquisition of Soraya and Dermika from Norway’s Orkla Group.
Over the last three years, the company has recorded average annual growth of more than 20% for its branded products: Bielenda, a cosmetics brand, and Bielenda Professional, for salons, spas and hotels.
“Cooperation with one of the most respected and fastest growing Polish cosmetics companies, Bielenda Kosmetyki, in the takeover of the Soraya and Dermika brands is very satisfying for us,” said Leszek Muzyczyszyn, Senior Partner at Innova Capital.
“All of Bielenda group’s brands have great prospects and this transition cements Bielenda’s position as one of the true leaders on the Polish cosmetic market.”
Bielenda Kosmetyki’s combined portfolio is expected to generate annual revenues in excess of PLN200m, with the potential for further growth in international markets.
Marel Bielenda, CEO of the company added: “We are convinced that the current acquisition will accelerate the growth of the value of the company.
“We are one of the strongest players on the Polish cosmetic market, and the current move will undoubtedly strengthen our position further, not only in terms of the scale of operations and market share, but also in terms of the group’s operational efficiency.”
The transaction is awaiting approval from the Polish Office of Competition and Consumer Protection.