Private and exclusive brand beauty manufacturer Maesa Group, announced that it has completed the acquisition of P2 Cosmetics, available exclusively at DM, Germany’s largest drugstore retailer. P2 Cosmetics joins Maesa Group’s strategic portfolio, including FLOWER for Walmart, CIRCA for Walgreens and ELLE for Monoprix, further strengthening Maesa Group’s expertise and position in the exclusive beauty brand market.
Founded in 2004 as a division of Palmers Textil, the leading Austrian lingerie retailer, P2 Cosmetics has become a mainstay in the German beauty industry. Known for its extensive product portfolio, P2 Cosmetics products feature high quality formulas available at an affordable entry price point, with an average retail price of €2.75 per product. Sold in 1,800 DM stores across Germany, with over 350 SKUs, P2 Cosmetics products are manufactured in Germany and France, and are 100% paraben free and fragrance free.
P2 Cosmetics will continue to operate out of Vienna, Austria under the brand’s current leadership team, further enhancing Maesa Group’s global footprint.
“P2 Cosmetics has a proven track record of bringing innovation to the cosmetic category,” said Gregory Mager, Founder and CEO of Maesa Group. “This brand has piqued a strong interest for expansion in the US United States and Canada through an exclusive distribution model. I am excited for one of the most successful exclusive beauty brands in the world to join Maesa Group, and I look forward to continuing to grow the partnership with DM.”
The acquisition is financed through unirate debt provided by Tikehau Investment Management and a capital increase subscribed by Maesa Group’s founders, along with Edmond de Rothschild whose stake in the Maesa Group will raise from 20% to 25%. The balance is held by Maesa Group’s management team with co-founders, Gregory Mager and Julien Saada remaining majority shareholders.
Maesa Group’s total revenues are expected to reach $185 million in 2015, post-acquisition. Through this acquisition, Maesa Group is affirming a strong growth ambition for the next five years, with the goal to reach $350 million in revenue by 2020.