Loto del Sur has sold a stake in the company to Puig

The private shareholder of Loto del Sur has sold a 55% stake in the company to Puig on a two-stage transaction, with an initial 35% stake. Financial details have not been disclosed.

Cosmetika SAS operates under Loto del Sur, a premium natural cosmetic brand that operates its own stores, at an affordable price. The company was founded in 2001 and opened its first store in 2010. Loto del Sur has seven stores in Colombia. The company had revenues of US$4.7 million in 2018.

Puig is a Spanish family-owned company that engages in the fashion and fragrance business. The company operates under their own brands, including Nina Ricci, Carolina Herrera, Jean Paul Gautier, Paco Rabanne, Penhaligon’s and L’Artisan Parfumer, as well as licenses such as Prada, Christian Louboutin and Comme des Garçons, among others. Puig has five production plants, four in Europe and one in Mexico, and commercializes its products in 150 countries. In 2017, Puig had revenues of US$2.2 billion with US$258 million net income.

Oaklins’ team in Colombia acted as the exclusive advisor to the seller in this transaction.