Puig closing in on £1bn deal for Charlotte Tilbury
The Puig group is said to be close to securing a $1bn deal to acquire personality led beauty brand Charlotte Tilbury.
A deal could be announced as early as this week and the Spanish group is reported to have teamed up with private equity company BDT Capital Partners on the buyout.
If it goes through, the deal could mean a $500m pay-out for the high profile make-up artist who established her brand in 2013. However it is understood she intends to retain a minority stake. Other stakeholders include photographer Mario Testino, model Stella Tennant and investor and entrepreneur Wendi Murdoch.
Throughout her career Tilbury has worked with some of fashion's biggest name designers and models and has collaborated with Kate Moss on a fragrance. Her brand has become known for cult favourite products such as Airbrush flawless foundation and Magic Cream moisturiser.
It is stocked in some of the most pre-eminent retailers including Selfridges, John Lewis, Fenwick and Space NK in the UK and in branches of Sephora in Europe.
When it emerged that business – which received investment from Glossier-backer Sequoia Capital in 2017 – was on the market in April, a number of beauty's biggest groups began circling including Unilever, Shiseido and L’Oréal.
Its value indicates the continuing boom in personality-led beauty brands and follows on from the success of ranges, such as Rihanna’s LVMH-backed Fenty brand and Kylie Jenner’s line which sold a 51% stake to Coty, valuing the business at around $1.2bn.
Puig is best known for creating perfumes for, among others, Paco Rabanne, Nina Ricci and Jean-Paul Gaultier, as well as beauty for Christian Louboutin. It is also an investor in luxury label Dries Van Noten.