
Investindustrial-backed Artsana sells Lycia to Sodalis
Investindustrial-backed health and cosmetic products distributor Artsana has sold cosmetics manufacturer Lycia to Sodalis Group.
According to a statement, Sodalis acquired the business via its sister company Sodalco. Financial details surrounding the transaction have not been disclosed. Nonetheless, the deal reportedly values the business at €60m EV, which is double the turnover posted in 2015.
As part of the deal, Lycia will continue its production from Artsana's plant in Gessate, near Milan.
The acquirer, Sodalic, has a staff of 380 and manages several brands in the healthcare and beauty sectors, including Tesori d'Oriente, Vidal, Denim, Biopoint, Fresh&Clean, Strep, Leocrema, Wash&Go and L'Arbre Vert. The company has two production plants in Lodi in Italy and Poitiers in France. In 2015, it posted a turnover of €400m.
Previous funding
In April 2016, Investindustrial acquired a 60% stake in Artsana for a reported €750m from the founding Catelli family.
Company
Founded in 1950 and headquartered in Como, Lycia produces creams, sprays and wipes for personal hygiene and home care.
According to press reports, the company posted €30m in revenues in 2015.
People
Investindustrial – Andrea Bonomi (managing principal).
Sodalis Group – Fabio Granata (CEO).
Artsana – Michele Catelli (chair); Claudio De Conto (CEO).
Advisers
Equity – Lazard (corporate finance); Lombardi Molinari Segni e Associati (legal).
Buyer – Vitale&Co (M&A); Studio Cartella (legal).
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