Financial terms of the private transaction were not disclosed.
“North America is the largest beauty market in the world, and we’re confident our private equity investment in Prestige will help bolster its expansion in the region as the Company prepares for its next stage of growth,” said Emmanuel Hermann, CEO and founder of Leste Group. “The acquisition further demonstrates our extensive knowledge of the private markets, and we look forward to utilizing this experience to continue growing our private equity portfolio.”
Evelyse Britto, founder of Prestige Cosmetics, said the partnership will enable the company to increase its global distribution network and strengthen its retail footprint, among other business goals.
Leste Group, best known in the US for its equity and credit investments in real estate, is an experienced global private equity investor. It completed seven deals over the past decade.
