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Percassi acquires Peninsula’s 40% stake in KIKO

Oct 17, 2022

Antonio Percassi signs an agreement for the purchase of Peninsula’s stake in KIKO. As a result of the agreement the Percassi family now controls 100% of the company, and Peninsula has fully divested its shares

As a positive conclusion of the partnership started in 2018, Peninsula Capital (“Peninsula”) – an international private equity fund – and Antonio Percassi, the main shareholder of Kiko S.p.A. (“KIKO” or the “Group”), the leading Italian brand of cosmetics, signed today a binding agreement under which, Percassi is buying back the 38% stake of KIKO held by Peninsula Capital. The closing is expected by the end of 2022.

Through this transaction, the Percassi family will consolidate its ownership of KIKO which will become directly and indirectly equal to 100% of the capital.

Founded in 1997 by Antonio and Stefano Percassi, KIKO is an Italian multinational company with more than Eur 750 million in revenues from more than 52 countries worldwide.

Antonio Percassi has commented: “This transaction is for us a source of great satisfaction and pride. We are very linked to this brand, which we have created and seen growing at impressive speed over the years. I am very thankful to Peninsula for its contribution and the support that they have given us in the international expansion of the brand which is now world-renowned. We are confident that the Company will continue on this path of growth and global expansion and this investment by our Group is a testimony of the confidence we have in the huge potential of KIKO and in the results that the leadership team under the lead of the CEO Simone Dominici will be able to achieve in the future”.

Peninsula has commented: “It has been an honour to work alongside and support the Percassi family and the management of KIKO in this journey of growth and global repositioning of the Group over the past years. It has been a thrilling adventure in which the aligned views between peninsula and Percassi and the mutual trust have been instrumental to successfully overcome challenging periods, making KIKO a renewed and stronger company and a clear example of Italian excellence able to compete at the highest standards globally. We want to thank the Chairman Percassi for having been an exceptional partner and leader, and we wish him, the CEO Dominici and the management to follow this successful route that we commenced together. This deal is a great example of the successful investment strategy of Peninsula which is able to achieve ambitious goals even in adverse market conditions through a constructive relationship that we built with all stakeholders.”

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