The Ontario Teachers’ Pension Plan has announced a deal to acquire a minority stake in Italy-based cosmetics manufacturer Intercos.

“I’m very pleased to be partnering with OTPP,” said Intercos president and chief executive officer Dario Ferrari.

“OTPP is an ideal financial partner and we are excited to partner with their outstanding team to grow and expand Intercos,” he added.

Founded in 1972, Intercos makes and supplies lipstick, eye shadow, mascara, foundation, pencils, powders, nail polish and skin-care products for almost 500 customers around the world. It recently moved to buy another Italy-based cosmetics company, Cosmint, through a deal that would bring the combined company to 15 factories worldwide and 5,000 employees.

“Our relationship investing team has the knowledge, experience and financial backing to complete sophisticated deals and foster a long-term relationship with Intercos,” said Jo Taylor, senior managing director at Ontario Teachers’.

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Copyright © 2017 Transcontinental Media G.P. Originally published on benefitscanada.com

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