French beauty company Alès Groupe has a new minority shareholder in Co-Capital, a manufacturer and distributor of medicines and cosmetics.

WHO: Hair stylist Patrick Alès founded Laboratoires Phytosolba, a botanical haircare brand formulated with plants, in 1969. Today the Alès Groupe is the French beauty company with Phyto, Lierac, Jowaé, and Laboratoire Ducastel in its portfolio.

IN THEIR OWN WORDS: “This operation permitted the conclusion of a long-term accord with the group’s financial partners in view of rescheduling its debt,” the company said in a statement, referring to a deadline of 2024. “This new financial structure will give the group the necessary flexibility for the execution of its strategy and the pursuit of its transformation plan.”

DETAILS:

• Co-Capital is investing 20 million euros in Avila, the holding company of the Alès family, Alès Groupe’s majority shareholder.
• This summer the Alés Groupe will launch a capital increase of up to 25.5 million euros, to be subscribed by Avila for a maximum of 20 million euros.
• Frédéric Poux has been appointed to the role of chairman of the board, succeeding Raphaël Yousri, who remains a board member.