TSG buys minority stake in Zoeva Cosmetics

The GP filed its intention to acquire a 33% stake in the company with the German competition authority in January.

Zoeva's managing director and founder Zoe Wolfram retained a controlling stake, according to a report by Unquote sister publication Mergermarket.

The company generates revenues of €30m with an EBITDA margin of more than 20%, according to the report.

It joins London-based Revolution Beauty and US firms Huda Beauty and Beauty Brands in TSG's current beauty businesses portfolio. TSG previously backed IT Cosmetics in 2012 and sold it to L'Oréal for $1.2bn in August 2016.

The investor's most recent European investment was a £213m minority stake purchase in Scottish craft beer maker Brewdog at a £1bn valuation in April 2017.

Company
Zoeva was founded in 2008 by Zoe Wolfram. The company is headquartered in Frankfurt and sells makeup and brush sets via its website. The company's products are also available in some shops, including French chain Sephora and UK department store Selfridges.

People
Zoeva – Zoe Wolfram (managing director).

Advisers
Equity – Gleiss Lutz Hootz Hirsch (legal).

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• Topics
• Expansion
• DACH
• Consumer
• Germany