Verescence (2,500 employees worldwide by 2024), specialist in glass bottles for the perfume and cosmetics industries, announces the arrival of the consortium made up of Movendo Capital and Draycott, two family investment holdings, as the group's new shareholder.
Formerly the luxury flaconnage division of Saint-Gobain Desjonquères, owned since 2019 by London-based private equity firm Stirling Square Capital Partners, Verescence is positioned as a preferred partner of the beauty industry's leading brands.
With 130 years of glassmaking expertise, the French company produces 600 million bottles a year at its four production sites and five finishing facilities in Europe, North America and Asia.
"We are delighted with the arrival of new shareholders who support our strategy, investment plans and sustainability program, including our decarbonization roadmap. We are convinced that this project is positive for all our employees, customers and partners."comments Thomas Riou, President of Verescence.
"We are delighted to acquire a global leader with a strong and experienced management team, perfectly aligned with our value creation strategy. Verescence's industry-leading position matches our investment criteria in several key dimensions. By combining management's expertise with our own, we aim for sustainable growth and value creation for all stakeholders."says João Coelho Borges, founding partner of Draycott, and Pedro Pereira Gonçalves, CEO of Movendo.
Movendo Capital is a Netherlands-based investment company operating in Europe and the United States. Draycott is a Portuguese investment management company.
Photo taken from the Verescence website.
