milan – Italian beauty manufacturer Ancorotti Group has acquired fellow beauty supplier Cosmoproject, which specializes in skin care and foundations, the companies said on Friday.
Financial details of the deal were not disclosed, but the acquisition is expected to close by the end of the first quarter of 2025.
The acquisition of Cosmoproject marks another step in the high-level strategy of the company founded in 2009 by Renato Ancorotti and his daughter Enrica. The group began as Anchorotti Cosmetics specializing in high-tech mascara, and soon expanded to other makeup and skin care products developed for international markets. Beauty labels. It currently serves 300 customers worldwide and generates more than 85 percent of its revenue outside Italy. Its plant in Crema – located in what is known as the Italian “Cosmetic Valley” – employs more than 500 people.
Founded in Sorbolo Messani near Parma by Primo Tortini in 1993, the family-run Cosmoproject serves 70 clients and generates revenues of more than 70 million euros, more than half through exports. With its acquisition, the Ancorotti Group is set to achieve revenues of over 220 million euros and employ over 800 people by 2025.
The deal is part of a strategic investment plan launched in 2021 when Anchorotti Cosmetics received El-Com’s financial backing. According to the report, the Luxembourg-based investment company bought an undisclosed stake with the support of the princely family of Liechtenstein and “entered into a strategic partnership with the manufacturer”, with the aim of improving its international presence, expanding its product offering and targeting new acquisitions to complement existing operations.
Of course, the acquisition of Cosmoproject follows the recent launch of Ancorotti Perfumes, a new company dedicated to producing perfumes for third parties, and thanks to a partnership with leading perfume manufacturer EuroItalia. Last month, Intesa San Paolo bank invested 10 million euros in Ancorotti Perfumes to support the opening of a 53,819 square foot facility dedicated to fragrances next to the Ancorotti Cosmetics plant. The unit is set to produce 50 million units per annum and employ 100 people.
Renato Ancorotti said that the Cosmoproject deal now “besides cosmetics and alcoholic perfumes, will enable us to expand our know-how to the third strategic segment: skin care, therefore strengthening the group, which he defined as a unique platform”. Aims to bring together the excellence of the Italian cosmetics industry.
A well-known entrepreneur in the beauty industry, Ancorotti retained his role as president of the company named after El-Com’s investment – flanked by his daughter and vice president Enrica and CEO Roberto Bottino – but also served as president of Cosmetica Italia. , Association of Italian Cosmetics Companies, 2018 to 2022. In 2021, Ancorotti was named “Cavalier del Lavoro” or “Knight of Labour”, one of the highest honors bestowed by the President of the Italian Republic, Sergio Mattarella.
Founded in 2013, L-Gam is a long-term oriented investment company with capital commitments of over one billion euros. It focuses on partnering with management teams in small and medium-sized companies across Europe and from a variety of industries. In 2018, L-Com acquired a majority stake in premium luxury outerwear company Woolrich International. Prior to that, it invested in Roberto Cavalli in 2015 and exited the fashion company in 2019.
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