PARIS — L Catterton has taken a minority stake in Israeli cosmetics brand Il Makiage.
The investment fund injected $29 million into the Tel Aviv-based company led by Oran Holtzman, putting L Catterton’s stake at 35.8 percent, an executive close to the deal said.
The move is meant to help grow Il Makiage’s business.
Holtzman acquired Il Makiage in 2013. The brand, which was established more than 40 years ago in New York, has a business model involving stores and teaching academies.
L Catterton — which was formed in 2016 after LVMH Moët Hennessy Louis Vuitton’s investment arm L Capital joined with private equity firm Catterton — has been active recently in the beauty space.
In late March it led a series A venture capital round for skin-care business Tula to ramp up its growth, as reported. That two-year-old beauty label makes products infused with probiotic technology aimed at balancing skin.
In January, L Catterton and a handful of celebrities, including Karlie Kloss, Ashton Kutcher, Mila Kunis and Hilary Duff, teamed to invest in coconut oil-based brand Kopari Beauty. The cash infusion was meant to help raise Kopari’s level of awareness and its expansion geography- and product-wise.
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Outside of beauty, L Catterton, the world’s largest consumer-focused private equity firm, invested in men’s wear brand Mizzen + Main in April.