Percassi family regains full control of KIKO as Peninsula exits
18/10/2022 10:42
MILAN, Oct 18 (Reuters) - The Percassi family has bought
the 38% stake in Italy's KIKO held by UK private equity fund
Peninsula Capital, regaining full ownership of the cosmetics
group it had founded in 1997, it said in a statement on Tuesday.
The closing of the operation is expected by the end of this
year, it added, without disclosing any financial details.
Peninsula bought a stake in KIKO back in 2018 to help fund
the brand's international growth and boost profitability.
Popular due to its cheap but trendy make-up products, KIKO
is present in 52 countries with sales of around 750 million
euros ($738.53 million).
($1 = 1.0155 euros)
(Reporting by Agnieszka Flak, editing by Cristina Carlevaro)
((agnieszka.flak@thomsonreuters.com; +39 06 8030 7754;))