L Catterton buys Italian accessible make-up brand KIKO [Reuters]
LVMH-MOET H/L/V UNSP/ADR (LVMUY)
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Source: Reuters
to the matter said valued the Italian accessible make-up maker at around 1.4 billion euros ($1.5 billion) including debt. L Catterton, which specialises in consumer goods and is backed by France's LVMH , is buying the stake from Italy's Percassi family who in 1997 founded what is now one of the world's biggest privately-owned make-up brands, the companies said in a joint statement. Report this ad The Percassis, who hail from the northern Italian town of Bergamo and own the local Serie A soccer team Atalanta, also founded barbershop products Bullfrog and men's cosmetics brand Womo. Active in retail real estate, the Percassi group runs commercial operations in Italy for companies such as Starbucks , Nike , Gucci and Victoria's Secrets. With offices across the world, the firm has 9,000 employees. ($1 = 0.9304 euros) Coming soon: Get the latest news and expert analysis about the state of the global economy with Reuters Econ World. Sign up Reporting by Valentina Za, editing b
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