Leste Group, an alternative investment manager, has acquired a significant stake in Prestige Cosmetics through its private equity platform.
Prestige is a distributor of perfumes and cosmetics in Brazil with a presence in North America, including brands like Clinique, Dolce & Gabbana, Salvatore Ferragamo, Bulgari, Tom Ford, Acqua di Parma, and Bond No. 9. Leste will be focused on working with management to drive its international expansion.
“North America is the largest beauty market in the world, and we’re confident our private equity investment in Prestige will help bolster its expansion in the region as the Company prepares for its next stage of growth,” says Emmanuel Hermann, CEO & founder of Leste Group. “The acquisition further demonstrates our extensive knowledge of the private markets, and we look forward to utilizing this experience to continue growing our private equity portfolio.”