Global alternative investment manager, Leste Group has acquired a significant stake in Prestige Cosmetics, a leading distributor of luxury perfumes and cosmetics in Brazil. Leste made this acquisition through its private equity firm; financial terms were not disclosed.
 
Prestige Cosmetics is the exclusive distributor in Brazil, with a growing presence in North America. The company offers fragrance and skincare brands including Clinique, Tom Ford, Salvatore Ferragamo, Dolce & Gabbana, Bulgari, Bond No. 9 and others.
 
Leste will assist the company in accelerating its international expansion, building on Prestige’s operations currently outside of Brazil. 
 
Prestige Cosmetics founder, Evelyse Britto commented, “Our partnership with Leste Group will enable us to increase Prestige’s global distribution network, strengthen our retail footprint and e-commerce channel, form new brand partnerships, and explore additional strategies to further enhance our business.”
 
“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 CEO and founder of Leste Group, Emmanuel Hermann.

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Also, read our current list of beauty mergers and acquisitions of 2024.