L Catterton has entered a definitive agreement to acquire a majority stake in the Italian beauty brand KIKO Milano from the founding Percassi family, who will retain a significant stake in the company. Terms of the transaction were not disclosed.WHO: Founded in 1997 by Antonio and Stefano Percassi and headquartered in Bergamo, Italy, KIKO Milano has revolutionized the way cosmetics are sold worldwide and now stands as the leading Italian cosmetic and skincare brand with a distinctive product portfolio of high-quality formulations available at an accessible price point. KIKO has an experiential retail network of more than 1,100 stores spanning Europe, Asia, and the Middle East, being present in 66 countries.Percassi is a diversified group engaged in the development and management of franchised retail networks for renowned brands including Nike, Jordan, Victoria's Secret, Bath & Body Works, LEGO, Gucci, Armani Exchange, Saint Laurent, Garmin, and Starbucks. Additionally, Percassi operates its own brands such as KIKO Milano, Womo, and Bullfrog, and is active in the sports sector with Atalanta. Furthermore, the group is involved in real estate developments.L Catterton is a market-leading consumer-focused investment firm, managing approximately $34 billion of equity capital across three multi-product platforms: private equity, credit, and real estate. Founded in 1989, the firm has made over 250 investments in some of the world's most iconic consumer brands.