Billionaire Dennis Bastas’ DBG Group acquired the remaining stake in Australian dupe brand MCoBeauty in a deal that reportedly values the brand at $1 billion. WHO: Entrepreneur Shelley Sullivan started the business in 2002 as Model Co. Seeing the white space for more accessible, less expensive products, she pivoted and launched MCoBeauty in 2020. Her strategy has been identifying viral beauty products and duping them at a fraction of the cost.DBG Health, led by healthcare entrepreneur Dennis Bastas, operates Arrotex Pharmaceuticals, Australia’s leading generic pharmaceutical and private-label over-the-counter supplier. The company expanded into the health and beauty sector, creating VidaCorp with a brand portfolio that includes Nude by Nature, Makeup Cartel, esmi Skin Minerals, MyAura, Brutal Truth, and SkinB5.WHY: The acquisition strengthens Basta's growing presence in the beauty industry following the $60 million purchase of Nude by Nature and Makeup Cartel last year. MCoBeauty is expected to continue its global growth trajectory, reinforcing DBG Group’s strategy of making high-quality beauty accessible to the mass market.IN THEIR OWN WORDS: Founder Shelley Sullivan told The Financial Review, “DBG let us run the business the way I wanted to run it—fast-paced, entrepreneurial. Eighteen months later, I’m ready to leave. I’m very proud of the brand I’ve built.”She told Forbes Australia, “We’ve outsold Rimmel, L’Oréal, Maybelline, all the big brands, within a four-year period and taken it from six million to a three hundred million turnover and over a hundred million EBITDA business.