Beauty Manufacturer Ancorotti Group Takes Over Cosmoproject
-
Loading... - Brigitte Martin
- 03 Dec 2024
- 35 Views
- 0 Like
- 0 Comment
Ancorotti Group, the Italian beauty manufacturer founded by Renato Ancorotti in 2009, has announced its acquisition of Cosmoproject, a fellow beauty supplier specializing in skin care and foundations. This strategic move is part of Ancorotti Group's expansion efforts and follows the recent launch of Ancorotti Perfumes.
The financial specifics of the deal have not been disclosed, but it is expected to close by the end of the first quarter of 2025. The acquisition of Cosmoproject aligns with Ancorotti Group's upscale strategy, which aims to enhance its expertise in makeup and skin care products.
Ancorotti Group began as Ancorotti Cosmetics, focusing on high-tech mascara and quickly expanding its product range to include various makeup and skin care items for international beauty labels. The company currently serves over 300 customers worldwide, generating more than 85% of its revenues from markets outside Italy. Its manufacturing facility in Crema, located in the renowned Italian "Cosmetic Valley," employs over 500 people.
Founded in 1993 by Primo Tortini in Sorbolo Mezzani, near Parma, Cosmoproject is a family-run business that serves 70 clients and generates over 70 million euros in revenues, with more than half coming from exports. With this acquisition, Ancorotti Group is projected to report revenues exceeding 220 million euros and employ over 800 people by 2025.
The acquisition is part of a broader strategic investment plan initiated when Ancorotti Cosmetics secured financial backing from L-Gam in 2021. The Luxembourg-based investment firm, backed by the princely family of Liechtenstein, acquired an undisclosed stake in Ancorotti and entered into a strategic partnership aimed at enhancing the company's international presence, expanding its product offerings, and pursuing new acquisitions.
This acquisition follows the recent launch of Ancorotti Perfumes, a new venture dedicated to producing fragrances for third parties, established in partnership with leading perfume manufacturer EuroItalia. Last month, Intesa San Paolo bank invested 10 million euros in Ancorotti Perfumes to support the opening of a 53,819-square-foot facility dedicated to fragrance production, which is expected to produce 50 million units annually and create 100 jobs.
Renato Ancorotti expressed that the acquisition of Cosmoproject will allow Ancorotti Group to expand its expertise beyond makeup and alcoholic perfumery into the skin care segment, further solidifying the group as a unique platform that embodies the excellence of the Italian cosmetics industry.
Ancorotti, a prominent figure in the beauty sector, has retained his role as president of Ancorotti Group after the investment from L-Gam, alongside his daughter Enrica, who serves as vice president, and Roberto Bottino, the CEO. Ancorotti also previously served as president of Cosmetica Italia, the Italian association of cosmetics companies, from 2018 to 2022. In 2021, he was honored as a “Cavaliere del Lavoro” (Knight of Labour), one of Italy's highest honors.
Established in 2013, L-Gam is a long-term investment company with capital commitments exceeding 1 billion euros. It focuses on partnering with management teams in small and medium-sized companies across various industries in Europe. Notably, L-Gam acquired a majority stake in premium luxury outerwear brand Woolrich International in 2018 and previously invested in Roberto Cavalli in 2015, exiting the fashion company in 2019.
With the acquisition of Cosmoproject, Ancorotti Group is poised for significant growth and innovation in the beauty industry, further enhancing its position as a leader in the market.
