Innova acquires stake in Bielenda Kosmetyki

The proceeds from the investment will finance the company's acquisition of Norwegian cosmetics group Orkla's Polish skin care brands Soraya and Dermika, furthering its position in the cosmetics segment. 

The GP is currently investing from Innova/6, which held a final close in September 2019 on €271m. 

The combined group will generate total annual revenues in excess of PLN 200m (€44.5m). According to the company, it has recorded average annual revenue growth of more than 20% in the last three years.

The transaction is subject to regulatory approval.

Company 
Founded in 1990, Bielenda Kosmetyki is a brand of cosmetics for face, body and hair care. It's portfolio consists of cosmetic brand Bielenda, and Bielenda Professional, which is targeted at professional clients, including beauty salons, spas and hotels.

The company's products are distributed via beauty retail chains in the country, as well as large-format retailers, online platforms and multiple foreign markets. 

The company's revenues amount to PLN 200m (€44.5m), and it employs more than 200 staff, according to its LinkedIn page.  

People
Innova Capital – Leszek Muzyczyszyn (senior partner).
Bielenda Kosmetyki –  Marek Bielenda (CEO).

Advisers
Equity – Greenberg Traurig (legal); Kancelaria Krassowski (legal); PwC (financial & commercial due diligence, tax); Ramboll Environ (ESG due diligence); Allen & Overy (legal); EY (tax advisory).

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• Topics
• Expansion
• CEE
• Consumer
• Innova Capital
• Poland
• Acquisition finance
• EY (Ernst & Young)
• PwC
• Allen & Overy