Knowlton Development Corporation (KDC/ONE), a portfolio company of Cornell Capital LLC, has acquired ALKOS Group from founder and majority owner Gérard Gieux. Financial terms were not disclosed.
Founded in 2008, Paris based ALKOS Group comprises INTER Cosmétiques, SAGAL Cosmétiques and ALKOS Cosmétiques with a portfolio of high-quality, unique and innovative ‘Made in France’ products across makeup, skincare, cosmetic pencils and perfumed deo sticks and soaps, all of which serve major worldwide cosmetics brands and include the only French manufacturer of cosmetic pencils.
Formerly backed by MBO Partenaires, Gérard Gieux reacquired the company in March 2017.
The acquisition of ALKOS Group is the latest for KDC/ONE since 2017, which also included Aromair Fine Fragrance and Northern Labs, as it continues to execute on an international growth strategy to broaden its geographic footprint and solidify its global leadership.
In December 2018, Cornell Capital, of New York and Hong Kong, acquired a majority stake in Knowlton Development Corporation from NOVACAP, Caisse de dépôt et placement du Québec (CDPQ), Fonds de solidarité FTQ, and Investissement Québec (IQ). CDPQ and IQ roll-overed their stakes and retained a significant stake in KDC. The roll-over shareholders also include Key members of the senior management team led by Nicholas Whitley, President and CEO.
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News Release
KDC/ONE Acquires ALKOS Group
Expands Global Footprint by Partnering with a Leader in European Cosmetics Industry
Acquisition Builds on International Growth Strategy
Longueuil, Quebec, July 02, 2019 – Knowlton Development Corporation˜ (“KDC/ONE”), a leading value-added partner to beauty, health and personal care brands, today announced the acquisition of ALKOS Group (“ALKOS”), one of the top cosmetics manufacturers in France. [Financial terms of the transaction were not disclosed.]
Headquartered in Paris, ALKOS Group comprises INTER Cosmétiques, SAGAL Cosmétiques and ALKOS Cosmétiques with a portfolio of high-quality, unique and innovative ‘Made in France’ products across makeup, skincare, cosmetic pencils and perfumed deo sticks and soaps, all of which serve major worldwide cosmetics brands and include the only French manufacturer of cosmetic pencils. ALKOS Group employs more than 400 full-time employees in three facilities totaling more than 300,000 square feet. The acquisition of ALKOS Group provides KDC/ONE with a premier partner in the European market and an expanded global presence in the high-growth cosmetics industry.
“ALKOS Group has deep roots in the cosmetics sector, an excellent reputation for product quality and innovation, and a customer-focused vision that will provide KDC/ONE with strategic access to the European market and unique technologies that reinforces our position as a leader in prestige beauty,” said Nicholas Whitley, President and CEO of KDC/ONE. “We look forward to working with the team at ALKOS, as well as our partners at Cornell Capital, to leverage the full product portfolio and further diversify our customer base to capitalize on a number of cross-selling opportunities and deliver tangible benefits to all of our stakeholders.”
Gérard Gieux, founding owner of ALKOS Group said: “With KDC/ONE, the ALKOS Group will have access to the capital needed to continue making essential investments in its business and its products, solidifying its leading market position. The ALKOS Group is excited to enter new markets and continue to deliver quality products to new and existing customers alongside a trusted partner that shares similar values to ensure the sustainability and long-term growth of ALKOS Group”.
Established in 2002, KDC/ONE has grown organically and through acquisitions to become the leading personal care, beauty, over-the-counter medication, and home, industrial and auto care brand in North America. In November 2018, KDC/ONE partnered with Cornell Capital, a private investment firm based in New York and Hong Kong, to drive international growth and enhance KDC/ONE’s ability to continue to invest in top-tier product innovation and best-in-class manufacturing capabilities. The acquisition of ALKOS Group is the latest for KDC/ONE since 2017, which also included Aromair Fine Fragrance and Northern Labs, as it continues to execute on an international growth strategy to broaden its geographic footprint and solidify its global leadership.
About KDC/ONE
Established in 2002, KDC/ONE is a network of best-in-class custom formulators and manufacturers of color cosmetics, skincare, haircare, bath & body, fragrance, deodorant, home, health, industrial, and auto care products. KDC/ONE delivers high-touch innovation, operational excellence, and speed to market to well-known and emerging beauty, personal, and specialty companies from coast to coast. The company has its head offices in Longueuil, Québec. It has exprecienced rapid growth through the successful completion of eight notable acquisitions over the past four years, most recently with Aromair Fine Fragrance, Northern Labs and now ALKOS Group. Including ALKOS Group, KDC/ONE now has 13 operating facilities located throughout North America and in France. Altogether, the company employs over 5,200 talented and dedicated employees.
About ALKOS Group
ALKOS Group was founded in 2008 by Gérard Gieux and today comprises INTER Cosmétiques, SAGAL Cosmétiques and ALKOS Cosmétiques. ALKOS Group offers a wide range of high-quality, innovative ‘Made in France’ products across makeup, skincare, cosmetic pencils and perfumed soaps and deo sticks, all of which serve major worldwide cosmetics brands. ALKOS Group is headquartered in Paris and employs more than 400 full-time employees in three French facilities, where each product is created, formulated, produced and assembled. For more information, visit www.alkos-group.com.
About Cornell Capital
Cornell Capital LLC is a U.S.-based private investment firm with $3.0 billion of AUM and offices in New York and Hong Kong. Partnering with strong and entrepreneurial management teams, the firm takes a value-oriented approach to investing across the consumer, financial and industrial sectors. Founder and Senior Partner Henry Cornell, who served as the Vice Chairman of Goldman Sachs’ Merchant Banking Division prior to founding Cornell Capital in 2013, leads a highly seasoned senior leadership team with decades of shared investing experience. For more information, visit www.cornellcapllc.com.
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Media contacts
KDC/ONE
Valérie Gonzalo
PR Consultant
(514) 923-1549
valerie@agocom.ca
ALKOS Group
Florence Lefeuvre
VP Sales, Marketing & Communications
+33 617 09 49 99
f.lefeuvre@alkos-group.com
Cornell Capital
Jonathan Keehner / Tim Ragones / Kate Clark
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449