Verescence shareholding accelerates expansion plans
Private equity firm Stirling Square Capital Partners has acquired a shareholding in the perfumery and cosmetics glassmaking specialist Verescence. The company produces 500 million bottles every year at its three glass production and four decoration sites in Europe and North America. In 2018, Verescence employed 2300 people worldwide and achieved sales of €305 million.
“The arrival of Stirling Square Capital Partners as a new shareholder in our group will enable us to accelerate our international expansion and our strategic plan Verescence 2022 – Forming the future” commented Thomas Riou, President. This project includes what is described as a massive investment plan, valued at €122 million.
“Verescence is the genuine best-in-class player in its field, acting as a critical supplier to the world’s most prestigious brands” said Julien Horreard, Partner at Stirling Square Capital Partners. “It is a true innovator in its category, expanding the design and technical boundaries of what can be achieved. We are delighted to partner with CEO Thomas Riou and his highly accomplished team to continue the company’s journey towards operational excellence.”