THE WHAT? L Catterton has announced that it has entered into a definitive agreement to acquire a majority stake in Kiko Milano from the Percassi Family for an undisclosed sum. The Italian founders will retain a significant stake in the make-up brand.

THE DETAILS In 2023, Kiko recorded net revenue of approximately €800 million and nearly 20 percent year-over-year growth. Through this partnership with L Catterton, the brand hopes to accelerate its global expansion.

THE WHY? Nik Thukral, a Managing Partner in L Catterton’s Flagship Buyout Fund said, “We have long admired KIKO for its distinctive style, quality products, and global appeal and are deeply honored to partner with Antonio and the Percassi Family to further build on the strength of this iconic brand, alongside industry veteran and L Catterton senior advisor, John Demsey.”