In Exclusives, Finance

After months of industry speculation, Puig, the Spanish, family-owned manufacturer of fragrances such as Paco Rabanne, Jean-Paul Gaultier, Penhaligon’s, and Nina Ricci, announced on June 4 that it will acquire a majority stake in British cosmetics brand Charlotte Tilbury. Financial terms weren’t disclosed but, according to Bloomberg, the deal valued the company at more than £1.2 billion ($1.5 billion). Charlotte Tilbury, the London-born makeup artist who founded the brand in 2013, will maintain “a significant minority stake” in the company and remain its Chairman, President, and Chief Creative Officer, and Demetra Pinsent will remain as CEO. BDT Capital Partners, a merchant bank that provides family and founder-led businesses with long-term capital, will invest alongside Puig and hold a minority stake.

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