Italian contract manufacturer Ancorotti Cosmetics announced the acquisition of skincare and foundation manufacturer Cosmoproject.WHO: Cosmoproject, founded in 1993 by Primo Tortini, is the largest independent Italian manufacturer of skincare and foundation. With a turnover of 70 million euros, it exports over 50% of its production and collaborates with more than 70 customers, employing approximately 250 people.Ancorotti Cosmetics, founded in 2009 by Renato Ancorotti and his daughter Enrica, quickly established itself in the contract cosmetics sector and is now globally recognized for its expertise in makeup, with undisputed leadership in mascara production. The company generates over 85% of its sales from foreign markets and has approximately 500 employees and collaborators in the Crema plant.WHY: The transaction will allow Cosmoproject and Ancorotti Cosmetics to lay the foundation for the development of an Italian industry leader, determined to compete and establish itself internationally. IN THEIR OWN WORDS: “After the launch of Ancorotti Perfumes in collaboration with EuroItalia, we are excited to open a new chapter of growth. Thanks to the synergies created, we aim for increasingly ambitious goals,” said Renato Ancorotti, President and co-founder of Ancorotti Cosmetics.DETAILS:Ancorotti Cosmetics has acquired Cosmoproject.The deal is part of a strategic investment plan initiated when Ancorotti Cosmetics secured the financial backing of L-Gam in 2021.With its acquisition, Ancorotti Group is establishing a market leader in Made in Italy cosmetics with over €220 million in revenue and a workforce expected to exceed 800 employees by 2025.