Charlotte Tilbury nears £1bn deal with Puig

By Becky Bargh 4-Jun-2020

The premium beauty brand is reported to be negotiating an agreement with the Spanish heavyweight in a deal that could fetch £1bn

After months of talks, Charlotte Tilbury, the eponymous beauty brand of the British make-up artist, could soon strike a deal with a new owner.

The premium make-up and skin care brand is said to be nearing a deal with Spanish beauty conglomerate Puig, and an agreement could be announced as soon as this week, according to Bloomberg.

Reports have also circulated that Puig is in talks with Byron Trott’s investment firm BDT Capital Partners to fund the purchase, which could fetch up to £1bn.

In April, Cosmetics Business reported that beauty heavyweights were circling the UK brand, and that it had received offers from several major players in the industry.

Unilever, L’Oréal, Estée Lauder Companies and Shiseido were all reported to have thrown their hat in the ring.

Puig’s brand portfolio is dominated by fragrance brands, such as Carolina Herrera, Jean Paul Gaultier, Paco Rabanne and Penhaligon’s, but in recent years has expanded its investment into skin and body care brands.

In 2019, the firm bought minority stakes in Columbian beauty brand Loto del Sur and India’s wellness brand Kama Ayurveda.

If Puig is successful, Charlotte Tilbury would sit alongside Puig-licenced Christian Louboutin Beauty and Carolina Herrera’s make-up sub-brand.

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Charlotte Tilbury and Puig have been contacted for comment.