Signed in June, the two groups have agreed in a preliminary contract that Intercos will take control of Cosmint, and opens the option for Cosmint’s owner to invest with a minority stake in Intercos’s capital.
The two companies say the move will create one of the largest B2B groups in the world of beauty.
Cosmint’s current owners will maintain their current active role as managers, as well as their participation in the Board of Directors of the Cosmint Group. Decio Masu will be appointed as a member of the Board of Directors of Intercos S.p.A..
Partnership in numbers
Together, Intercos and Cosmint aim to boast the following:
Estimated revenues in 2017 of Euro 700 million;
5000 employees globally;
15 factories and 11 research centers in Europe, Asia and America.
“The partnership will create commercial and industrial synergies beneficial to both Groups as well as their customers,” they say in a statement on the partnership.
The partnership, subject to certain conditions, is due to begin during the second half of this year.
Both organisations have spoken with enthusiasm of the upcoming partnership.
Dario Ferrari, president of Intercos, says: "I am very happy to have Cosmint join the Intercos Group. Their excellence in Manufacturing, deep knowledge of the Skin, Hair and Body Care categories as well as their state of the art factories in Italy and Poland will allow Intercos to grow significantly in terms of organizational skills and production capacity.
"Last but not least, Intercos will now be able to satisfy customers' needs in virtually all categories of the Beauty industry thanks to the arrival of Cosmint in its family.”
Decio Masu, president of Cosmint, says, "We are thrilled to join the Intercos Group and, by doing so, reach a global dimension. Together, we have created an Italian powerhouse at the center of the Beauty Industry. My family and I are looking forward to start working with Mr. Ferrari and the Intercos team.”