LVMH-backed L Catterton taps barclays, UniCredit for Kiko deal

By

Bloomberg

Published



May 4, 2024

Banks including Barclays Plc and UniCredit SpA are lining up €500 million ($538 million) in debt financing to back L Catterton’s purchase of a majority stake in Italian beauty brand Kiko, according to people familiar with the matter. 

kikocosmetics.com/ru-ru/

Private equity fund L Catterton is backed by luxury giant LVMH Moet Hennessy Louis Vuitton SE, and recently entered into a definitive deal with the Percassi family, the founders of Kiko, to buy a stake in the company. The family will retain a significant stake in the business.

Other underwriters on the debt, which will be a bridge loan that will be replaced with a bond, include Deutsche Bank AG and Intesa Sanpaolo SpA, the people said, who asked not to be named discussing a private matter. 

Spokespeople for Barclays and UniCredit declined to comment. Spokespeople for Deutsche Bank, Intesa Sanpaolo and L Catterton did not immediately return requests for comment. 

Kiko, founded in 1997 by Antonio and Stefano Percassi, is a global cosmetic company with a retail network of 1,100 stores in 66 countries. The firm reported net revenue of about €800 million ($861 million) in 2023, a 20% increase versus the prior year, it said in a recent statement.

L Catterton, backed by LVMH and the holding company of its founder, Bernard Arnault, has invested in over 30 beauty brands globally, including Intercos, Maria Nilla and Oddity. 
 

FOLLOW US ON GOOGLE NEWS

Read original article here

Denial of responsibility! Chronicles Live is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – chronicleslive.com. The content will be deleted within 24 hours.

Leave a Comment