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INTERNATIONAL. The Falic Group, the duty free retail and luxury products consortium owned by the Falic family, has sold Urban Decay Cosmetics to funds affiliated with Castanea Partners.
Urban Decay is a leading premium colour cosmetics brand known for its imaginative products and artistic style.
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“We are proud of the successful business we built with Urban Decay over the past six years. During this period, annual sales increased by more than four times.“ |
Simon Falic Chairman The Falic Group |
Chairman Simon Falic said: “We are proud of the successful business we built with Urban Decay over the past six years. During this period, annual sales increased by more than four times. We know this brand will continue to thrive under Castanea Partners’ talented leadership.”
Falic added: “This transaction is consistent with the Falic Group’s strategy to focus on its leading fragrance brands in order to continue to gain additional market share in this vibrant sector.
“In addition to our core duty free retail business and global distribution of luxury goods, we remain focused on maximising the potential of our fragrance portfolio, which includes Perry Ellis, Hard Candy, Daddy Yankee and several exciting high-end celebrity fragrances that will launch over the next twelve months.”
Piper Jaffrey acted as the Falic Group’s financial advisor in connection with the transaction.
About The Falic Group
The Falic Group of companies is involved in the retail sale, manufacture and international distribution of luxury goods.
The Falic Group owns and operates Duty Free Americas, the largest duty free retail store operator in the Americas, with over 120 duty free shops located in major international airports and border crossings. The group also owns several fragrance brands and holds the worldwide license to manufacture and distribute fragrances and cosmetics under the Perry Ellis brand name.
About Castanea Partners
Castanea Partners is a private equity firm that invests in small and middle market companies in publishing, education, training, consumer brands, specialty retail, and marketing services.
The firm has extensive operating and private equity investment experience in these sectors, working closely with management to optimise business performance and realise attractive returns.
Castanea participates in leveraged buyouts, growth and acquisition equity investments, and operationally challenging situations. The firm is currently investing from its third fund, a US$575 million fund that targets companies with enterprise values up to US$250 million.
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