Charm Maker Ancorotti Group Takes Control Of Cosmoproject

MILAN– Italian charm maker Ancorotti Group has actually taken control of Cosmoproject, a fellow charm provider that concentrates on skin care and structures, the companies stated Friday.

Financial information of the offer were not revealed however the acquisition is anticipated to nearby completion of the very first quarter of 2025.

Cosmoproject’s acquisition marks another action in the high end technique of the business developed by Renato Ancorotti and his child Enrica in 2009. The group started as Ancorotti Cosmetics, focusing on state-of-the-art mascara, and quickly broadened to other makeup and skin care items established for worldwide charm labels. It presently serves over 300 consumers around the world and produces more than 85 percent of its incomes outside Italy. Its plant in Crema– situated in the so-called Italian “Cosmetic Valley”– uses more than 500 individuals.

Established by Primo Tortini in 1993 in Sorbolo Mezzani, near Parma, the family-run Cosmoproject serves 70 customers and produces more than 70 million euros in incomes, majority by means of exports. With its acquisition, Ancorotti Group is set to report over 220 million euros in incomes and utilize more than 800 individuals by 2025.

The offer belongs to a tactical strategy of financial investments started when Ancorotti Cosmetics protected the sponsorship of L-Gam in 2021. As reported, the Luxembourg-based financial investment company backed by the baronial household of Liechtenstein obtained a concealed stake and went into “a tactical collaboration” with the maker, with the goal to improve its worldwide existence, expand its item offering and target brand-new acquisitions to match existing operations.

To be sure, Cosmoproject’s acquisition follows the current launch of Ancorotti Perfumes, a brand-new business devoted to the production of scents for 3rd parties and developed thanks to a collaboration with leading fragrance maker EuroItalia. Last month, the Intesa San Paolo bank likewise invested 10 million euros in Ancorotti Perfumes to support the opening of a 53,819-square-foot center devoted to scents ideal beside Ancorotti Cosmetics’ plant. The system is set to produce 50 million systems a year and utilize 100 individuals.

Renato Ancorotti stated the Cosmoproject offer will now “allow us to broaden our knowledge, in addition to makeup and alcoholic perfumery, likewise to a 3rd tactical sector: skin care,” for that reason even more enhancing the group, which he specified as “a special platform that intends to unite the quality of the Italian cosmetics market.”

A popular business owner in the charm market, Ancorotti not just maintained his function as president of the name business after L-Gam’s financial investment– flanked by his child and vice president Enrica and ceo Roberto Bottino– however likewise acted as president of Cosmetica Italia, the Italian association of cosmetics business, from 2018 to 2022. In 2021, Ancorotti was called a “Cavaliere del Lavoro,” or “Knight of Labour,” among the greatest honors bestowed by the president of the Italian Republic Sergio Mattarella.

Developed in 2013, L-Gam is a long-lasting oriented investment firm with capital dedications of over one billion euros. It concentrates on partnering with management groups in little and medium-sized business throughout Europe and coming from various markets. In 2018, L-Gam obtained a bulk stake in premium high-end outerwear business Woolrich International. Prior to that, in 2015 it bought Roberto Cavalli, leaving the style business in 2019.