INTERCOS TO USE FRESH CAPITAL FOR ACQUISITIONS
Byline: Janet Ozzard
PARIS — With a cash infusion from French bank Paribas in hand, Italian cosmetics manufacturer Intercos plans to hit the acquisition trail and go public within the next five years.
Paribas took a 20 percent stake in Intercos earlier this year. Intercos plans to use the capital for acquisitions, said Dario Ferrari, president and chief executive officer.
The company’s first acquisition could be in the skin care category, Ferrari said, although he would not specify further.
The two companies described the plan in a press conference held here Wednesday.
The company is forecasting net sales of $105 million this year and expects that to jump to $135 million by 2000. Dollar figures are converted from Italian lire at current exchange rates.
Intercos is projecting 19.23 percent growth on net sales this year, up from 16.56 percent last year. Its growth on net sales in 1996 was 25 percent.
Intercos has expanded its headquarters and laboratories in Agrata Brianza outside Milan, and also now has skin care capabilities in Italy in addition to its existing facility in Switzerland.