Another Beauty Deal?

It’s selling season for Italian beauty companies.

After the rumors surrounding Kiko Milano, fellow Italian accessible beauty label Wycon Cosmetics confirmed it has hired Ethica Corporate Finance as adviser as it seeks to sell a minority stake.

According to Mergermarket, private equity funds Trilantic Capital Partners, L Catterton and Argos Soditic are performing due diligence on Wycon Cosmetics ahead of binding bids at the end of this month.

Reached for a comment on Friday, Wycon Cosmetics stated that “at this moment, we’re evaluating the entrance of a foreign fund as minority shareholder with the goal to accelerate the brand’s international development.”

According to Mergermarket, Wycon Cosmetics is looking to fetch a valuation of 13 times the company’s 2017 earnings before interest, taxes, depreciation and amortization, or around 18 million euros.

Founded in 2009 by Raffaella Pagano and Gianfranco Satta, Wycon Cosmetics registered revenues of 60 million euros in 2016 (the most recent year for which numbers were released by the company), up 88 percent compared to 2015. It operates

181 stores in Italy and 44 abroad, and its products are carried in 32 countries across Europe, Asia and the Middle East.

As reported, Kiko Milano reportedly hired Rothschild as adviser to find a minority shareholder and Apollo, Carlyle, Investindustrial and Peninsula are said to be among the main funds interested in taking a stake. — SANDRA SALIBIAN