Peninsula Capital Sells 38% Stake in Kiko
October 20, 2022
Cleary Gottlieb represented private equity fund Peninsula Capital in the sale of its 38% stake in Kiko S.p.A. (Kiko) to the current majority shareholder belonging to the Percassi Group.
Peninsula Capital invested in Kiko in 2018, in the context of a complex restructuring of, and a period of financial strain for, the cosmetics group. Closing is expected to occur by year-end.
Kiko is an Italian professional cosmetics brand offering a line of cutting-edge make-up and skincare treatments with more than 950 stores worldwide. It is present in more than 50 countries with a wide range of sales channels and a strong online presence. Kiko currently generates more than €750 million in sales with a profit margin of more than 10% on net sales.