Austria: Maesa Group to acquire P2 Cosmetics
Maesa Group, a firm specialized in the design and manufacture of private label and exclusive beauty products, has announced that it is to acquire P2 Cosmetics, an Austria-based producer of makeup products with distribution exclusively through the German retail chain Drogerie Markt (DM).
Founded in 2004 as a division of Palmers Textil, P2 Cosmetics offers a range of cosmetic products for eyes, face, lips, hands and nails, featuring "high quality formulas available at an affordable entry price point, with an average retail price of €2.75 per product" according to a statement from Maesa.
P2 Cosmetics will continue to operate out of Vienna, Austria under the brand’s current leadership team, Maesa added.
"P2 Cosmetics has a proven track record of bringing innovation to the cosmetic category", said Gregory Mager, Founder and CEO of Maesa Group. “This brand has piqued a strong interest for expansion in the US United States and Canada through an exclusive distribution model. I am excited for one of the most successful exclusive beauty brands in the world to join Maesa Group, and I look forward to continuing to grow the partnership with DM”.