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. 
 

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