CB Holding, a firm controlled by Corrado Brondi, Selective Beauty’s chairman and one of the company’s founders, will hold the remaining stake, Selective Beauty said Tuesday.
The deal is expected to be completed by mid-June, according to the firm.
WWD reported April 3 a new investor was set to take a stake in Selective Beauty to replace private equity firm 3i.
Selective Beauty, which generates annual sales of about 180 million euros, or $279.3 million at current exchange, holds beauty licenses for brands including John Galliano, MaxMara and Trussardi. It also distributes brands such as Bulgari, Burberry and Agent Provocateur.
Investindustrial already has beauty interests including Morris Profumi, an Italian beauty manufacturer and distributor, and Atkinsons, an Italian prestige toiletries brand.
For more, see Wednesday’s issue of WWD.