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Universal Beauty Group Raises €6 Million

December 22, 2021 BeautyMatter
December 22, 2021
Végétalement

The French natural cosmetics company, known for its Végétalement Provence brand, closed a €6 million capital raise from a group of investors led by Connect Pro.

WHO: In 2008, Universal Beauty Group started as a distributor of haircare brands before launching its own brand, Végétalement Provence, in 2011 to offer hairdressing professionals a technical product that was kinder to the environment and customers' health. The brand offers a range of over 275 different beauty product references, including 140 in hair and skincare that are distributed in more than 500 points of sales.

WHY: The fresh capital will allow the business to accelerate its development in the rapidly expanding natural beauty sector, a market expected to show annual growth of 6-9% over the period 2021-2027. The company also plans to open a concept store in Paris in spring 2022, a new base for Végétalement Provence. And a significant investment will be dedicated to the digital development of the brand and to support e-commerce and fund international expansion.

IN THEIR OWN WORDS: "We were won over by the commitment and geographic proximity of Connect Pro and its co-investors, to help companies of our region to grow in France and internationally," said Vincent Faraco, co-founder of Universal Beauty Group.

"We are proud to invest in Universal Beauty Group, which will be the first investment of our new Sud Rebound fund launched in June this year. This venture in the heart of the local economic ecosystem is fully in line with our strategy to support the development of key business in our region," said Franck Paoli, President and founder of Connect Pro.

"We are delighted to welcome our new partners who will bring their vision and support to the growth of Végétalement Provence whose potential is limitless," said Jean-Marc Delabre, co-founder of Universal Beauty Group.

"We are delighted to accompany the leaders of Végétalement Provence in this great adventure. With its unique products, Végétalement Provence responds to a fundamental trend. The increase in the number of people looking for natural products continues to grow and will offer significant development opportunities," said Rémy Garello, Managing Director of Connect Pro.

DETAILS:

  • Universal Beauty Group closed a €6 million investment round led by Connect Pro alongside the private equity funds BNP Paribas Développement and Etoile Capital. The Région Sud Investissement fund completes the financing.
  • With 170,000 products sold in 2020, Universal Beauty Group forecasts sales of €4 million in 2021, with an EBITDA margin of around 20%. 70% of sales are made in mainland France, 15% in the French island of Réunion, and 15% internationally.
  • Following the transaction, the founders, Vincent Faraco and Jean-Marc Delabre, will remain reference shareholders and will continue to lead the group.
  • Audacia invested €1.5 million in the business in 2017, which fueled the doubling of the number of product references and the opening of three own-brand concept salons alongside 20 independent concept salons under the Végétalement Provence brand, including the most recent salon opened in Lyon in October.
  • Universal Beauty Group was advised by Richard Morgan Advisory and the law firm Volt Associés. The investors were advised by the law firm Nova Partners, with the financial audit carried out by Deloitte Finance.
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