Maesa Group designs and manufactures private label and exclusive products for the beauty industry. The company owns and manufactures several beauty brands distributed through mass channels, including Flower for Walmart and Circa for Walgreens.

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P2 Cosmetics was founded in 2004 as a division of Palmers Textil, a leading Austrian lingerie retailer. It has since become a mainstay in the German beauty industry, and known for its extensive product portfolio, according to Maesa Group.

P2 Cosmetics products are manufactured in Germany and France, and are 100% paraben free and fragrance free. The brand will continue to operate out of Vienna, Austria under the brand’s current leadership team, further enhancing Maesa Group’s global footprint.

"P2 Cosmetics has a proven track record of bringing innovation to the cosmetic category," said Gregory Mager, Founder and CEO of Maesa Group. “This brand has piqued a strong interest for expansion in the US United States and Canada through an exclusive distribution model. I am excited for one of the most successful exclusive beauty brands in the world to join Maesa Group, and I look forward to continuing to grow the partnership with DM.”

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The acquisition is financed through unirate debt provided by Tikehau Investment Management and a capital increase subscribed by Maesa Group’s founders, along with Edmond de Rothschild whose stake in the Maesa Group will raise from 20% to 25%. The balance is held by Maesa Group’s management team with co-founders, Gregory Mager and Julien Saada remaining majority shareholders. Maesa Group’s total revenues are expected to reach $185 million in 2015, post-acquisition. Through this acquisition, Maesa Group is affirming a strong growth ambition for the next five years, with the goal to reach $350 million in revenue by 2020.