Leste Group acquires significant stake in Prestige Cosméticos

Leste Group has acquired a significant stake in Prestige Cosméticos, a leading Brazilian distributor of luxury fragrances and cosmetics with a growing presence in North America. Financial terms of the deal were not disclosed.

Founded in 2014 and led by Evelyse Britto and partners Shinji Motoyama and Roberto Thiry, Prestige has grown into a leading international distributor of fragrances and cosmetics. Prestige is the exclusive distributor in Brazil for many luxury perfume, fragrance and skin care brands, including Clinique, Dolce & Gabbana, Salvatore Ferragamo, Bulgari, Tom Ford, Acqua di Parma and Bond No. 9. The company also has significant operations outside of Brazil, and Leste will focus on working with management to accelerate its international expansion, particularly in North America.

"Our collaboration with Leste Group will allow us to expand Prestige's global distribution network, strengthen our retail footprint and e-commerce channels, enter into new brand partnerships and explore additional strategies to further enhance our business, " said Evelyse Britto, founder of Prestige Cosméticos. "Leste shares our vision for the future and we look forward to leveraging their financial expertise and industry knowledge to identify new opportunities and markets ahead. "

CEO and Founder Emmanuel Hermann said: "North America is the largest beauty market in the world, and our private equity investment in Prestige will help fuel its expansion in the region as the company prepares for its next phase of growth. This acquisition further demonstrates our extensive knowledge of the private equity markets and we look forward to leveraging this experience to continue to grow our private equity portfolio."