MILAN — Intercos SpA has nailed down a new product category. The Italian cosmetics supplier has acquired 60 percent of DropNail Srl, a start-up nail polish formulation and production firm based in Romanengo, outside Milan.
Terms of the deal were not disclosed.
Founded in 2011, DropNail’s offering ranges from traditional nail colors to special effects and nail-polish remover. The company handles all production stages, including packaging.
“It gives us great satisfaction to be able to contribute to the development of an Italian start-up that already shows product excellence and with which we share an industrial approach,” said Intercos founder and president Dario Ferrari in a statement. “The addition of DropNail to our group will allow us to strengthen our business model with the creation of a new line of products, benefiting from significant synergy in research and development. We already expect a major increase in turnover next year.” RELATED STORY: Nail Polish's Meteoric Rise Begins to Stall >>
Intercos currently manufactures lipstick, eyeshadow, mascara, foundation, powder, pencils and assorted skin-care products, generating more than 500 new formulas annually and boasting a color range that exceeds 7,000 shades. Established in 1972, the company is controlled by Ferrari and the Eurazeo private equity firm, which owns a 20 percent stake. Intercos has three facilities in Italy and eight abroad, split among Switzerland, the U.S., China, Malaysia and Brazil.
“We are honored to join a group that is a world leader in cosmetics,” said DropNail chief executive officer Roberto Lucini. “We are certain that Intercos is the right partner with which to accelerate our growth in a significant way, maintaining our solidly Italian identity and continuing to focus on quality, creativity and products tailor-made for clients.”
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