Italmobiliare to acquire additional 60% of Officina Profumo Farmaceutica di Santa Maria Novella

Italian investment company Italmobiliare is to acquire an additional 60% stake in perfume and cosmetics brand Officina Profumo Farmaceutica di Santa Maria Novella for €120m.

As reported, in January the investment company acquired a 20% stake in the beauty brand for €40m, bringing its share up to 80%. Italmobiliare also has the option to increase its share in the brand in the future.

The Florence-based beauty brand reported a consolidated pro-forma turnover of more than €31m in 2019 and Ebitda of about €13m. Some 61% of its sales are done in the EMEA area, 18% in the US and 21% in Asia, mainly in South Korea and Japan.

The brand sells 600 bodycare products and home fragrances in over 300 of its own stores and corners globally. Officina Profumo Farmaceutica di Santa Maria was founded by Dominican friars in Florence in 1612.

Since the beginning of 2019, and including this investment, Italmobiliare has invested some €240m in portfolio companies, following some €190m invested in 2018.

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