Trilogy announced this morning it is acquiring CS Company Limited (CS) for a total of $NZ37 million as well as any earn-out payments.
CS is New Zealand’s largest importer and distributor of fragrances, toiletries and cosmetics and represents brands such as Marc Jacobs, Calvin Klein, Dolce & Gabbana, Gucci, Max Factor, Natio and OPI.
CS is currently run by CEO Ken Millar, COO/CFO Ray Guilford and Dianne Reynolds, a senior executive in the business, with the three committed to remain in the business.
Trilogy chairman Geoff Ross says the acquisition creates scale for Trilogy International and the additional earnings will provide a platform for future expansion. CS’ Ken Millar adds: “This is a good opportunity for CS Company and will be a key part of the business’ next growth phase.”
Ross states the beauty market is very strong in New Zealand and internationally, and this acquisition represents beauty companies working on expansion strategies.
“As a major player in the NZ beauty and cosmetics industry, CS complements our existing business, including very strong relationships with major retail partners and a national sales network, as well as expertise in online sales and the international beauty and cosmetics industry generally,” says Ross.
“Because the business is already performing well, we don’t plan to make any major changes through the earn out period. CS will operate as a stand-alone entity and existing management will report to a subcommittee of the Trilogy Board led by Stephen Sinclair.”
