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November 7, 2024
PI Global Investments
Private Equity

Leste Group Completes Private Equity Deal With Significant Stake In Prestige Cosmetics


Leste Group, a global alternative investment manager, has acquired – through its private equity platform – a significant stake in Prestige Cosmetics, a leading distributor of luxury perfumes and cosmetics in Brazil with a growing presence in North America. 


 

Prestige Cosmetics specializes in the distribution of perfumes and cosmetics from LVMH, Estee Lauder, Interparfums, Richemont, Shiseido, Clarins, La Prairie, and other renowned international brands.


 


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.” 


 

Prestige is the exclusive distributor in Brazil for a number of luxury perfume, fragrance and skincare brands including Clinique, Dolce & Gabbana, Salvatore Ferragamo, Bulgari, Tom Ford, Acqua di Parma and Bond No. 9. The company also has significant operations outside Brazil, and Leste will be focused on working with management to accelerate its international expansion. 


 


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.


 



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