Enterprise value 1.4 bln eur (Il Sole 24 Ore Radiocor) - Milan , 26 Apr - Private equity group L Catterton, backed by French luxury goods group LVMH, said it has reached an agreement to acquire a majority stake in Italian cosmetics group Kiko Milano.

The Percassi family, which founded Kiko in 1997, "will maintain a significant stake in the company," it said.

Financial details of the transaction were not disclosed, but financial sources said the enterprise value stood at about 1.4 billion euros.

Kiko in 2023 posted revenue of about 800 million euros, up nearly 20% compared to the year earlier.

"We opened up to a partnership that we believe can contribute to accelerating Kiko's growth at a global level," said Antonio Percassi, who will remain on board as chairman of Kiko.

AAA-Hob

(RADIOCOR) 26-04-24 14:56:40 (0436) 5 NNNN