Mergers and acquisitions are always motors of change in the beauty and personal care product sector, and 2017 saw some significant shifts in the key Italian industry.
Important acquisitions designed to extend product portfolios and boost market share included the move by the Lombardy-based make-up and skin care major Intercos to acquire Cosmint, a contract manufacturer of skin, hair and body care products.
In August 2017, Intercos confirmed it had inked an agreement to acquire, for an undisclosed amount, the Como-based family-owned manufacturer.
The Intercos-Cosmint partnership will create one of the largest B2B groups in the beauty world, with expected revenues of €700m. Additionally, the new Intercos-Cosmint group will command a total number of employees of close to 5,000, and count 15 plants and 11 research centres in Europe, Asia and the Americas.
Also in August, Intercos announced a new financing partner: the Ontario Teachers’ Pension Plan Board (OTPP), which acquired a 20.5% equity participation in the Italian company. The OTPP investment will enable Intercos to continue pursuing its future development plans, according to Dario Ferrari, President and CEO of the company.
“Intercos is developing in a dynamic way, as evidenced by the recent Cosmint acquisition, which enables us to improve our
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