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INTERCOS: Partnership with Ontario Teachers’ Pension Plan

  • The transaction strengthens Intercos' shareholder structure as well as the Company's ability to maintain a dynamic development plan
  • Ontario Teachers' Pension Plan will hold a minority stake in Intercos
  • Following the agreement, Dario Ferrari will retain control of the Company

AGRATE  BRIANZA (MB) – Intercos S.p.A. ("Intercos" or the "Company") today announced that Dafe 4000 S.p.A. and Dafe 5000 S.r.l., holdings headed by Intercos President and Chief Executive Officer Dario Ferrari, and CP7 Beauty Luxco S.à.r.l. (a holding company of L Catterton, the largest and most global consumer-focused private equity firm in the world), have signed an agreement with Ontario Teachers' Pension Plan ("OTPP"), Canada's largest single-profession pension plan, for the sale of a minority stake in Intercos.

In accordance with the agreement, Dario Ferrari will retain the majority of voting rights (in light of multiple voting shares) and the right to appoint the majority of the Directors of Intercos.

OTPP's investment will strengthen the shareholder structure and enable the Company to continue pursuing its future development plans.

Dario Ferrari, President and CEO of Intercos, said:

"I'm very pleased to be partnering with OTPP. Intercos is developing in a dynamic way, as evidenced by the recent Cosmint acquisition, which enables us to improve our presence in several market segments and to significantly increase our production capacity. OTPP is an ideal financial partner and we are excited to partner with their outstanding team to grow and expand Intercos."

Jo Taylor, Senior Managing Director of Ontario Teachers' said

"Our Relationship Investing team has the knowledge, experience and financial backing to complete sophisticated deals and foster a long-term relationship with Intercos. We are pleased to have taken a stake in a world leader in the creation, development and contract manufacturing of make-up cosmetics and skin care and look forward to working with Dario Ferrari, his team and L Catterton to develop the business further."

Nikhil Thukral, Managing Partner of L Catterton said:

"We are thrilled to support Dario and the entire Intercos team as the Company continues its rapid growth and expansion. Intercos is a truly unique player in the industry, with a diverse product offering and a robust global footprint. We look forward to the next chapter of this partnership as we work with Dario and OTPP to further strengthen Intercos' position as a leading global beauty brand."

The transaction is subject to the receipt of the standard consents from the Company's lenders.

For further information:

Image Building

Simona Raffaelli, Alfredo Mele,

Ilaria Mastrogregori, Vanessa Corallino

Ph. +39-02.89011300

Email: intercos@imagebuilding.it

Ontario Teachers' Pension Plan

Lori McLeod

Ph: +1 416-730-7207

Email: lori_mcleod@otpp.com