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The beauty supplier is positioned to report more than 220 million euros in revenues and employ more than 800 people by 2025.
Italian beauty manufacturer Ancorotti Group has acquired fellow beauty supplier Cosmoproject, according to reports.
While financial details were not disclosed, the acquisition is expected to close by the closure of Q1 2025.
Cosmoproject was established by Renato Ancorotti and his daughter Enrica in 2009, starting out as Ancorotti Cosmetics. The supplier specialized in high-tech mascara and skin care products developed for international beauty labels. It currently serves more than 300 customers worldwide and generates more than 85% of its revenues outside Italy. Its plant in Crema reportedly employs more than 500 people.
Founded by Primo Tortini in the early 1990s in Sorbolo Mezzani, Cosmoproject serves a reported 70 clients and generates more than 70 million euros in revenues, more than half via exports.
With its acquisition, Ancorotti Group is reportedly positioned to report more than 220 million euros in revenues and employ more than 800 people by 2025.
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