Draycott has acquired Verescence, a leader in glass packaging for the luxury cosmetics sector, in a €490 million deal, enhancing its international footprint and positioning in a growing market.

Information on the Target

Draycott has expanded its international portfolio with the acquisition of Verescence, a prominent player in the glass packaging industry specifically catering to the luxury beauty and cosmetics sector. This transaction, valued at €490 million, marks a significant milestone as it is the largest acquisition by a Portuguese private equity firm, according to insights from TTR Data. Verescence boasts an impressive global market share of around 21% and maintains strategic partnerships with prestigious brands such as Chanel, LVMH, Hermès, and L’Oréal.

With over 130 years of experience, Verescence has established itself as a leader through a combination of innovation, technical prowess, and a commitment to sustainability. Their differentiated offerings include a selection of decorated and patented solutions tailored to the needs of high-end cosmetic brands, ensuring they remain at the forefront of industry advancements.

Industry Overview in the Target's Specific Country

The luxury beauty and cosmetics industry in Portugal has seen consistent growth, correlating with broader global trends that emphasize premium products and sustainable practices. The sector is increasingly characterized by a surge in con