Beauty company Maesa acquires P2 Cosmetics

Private label Maesa Group has completed the acquisition of beauty brand P2 Cosmetics for an undisclosed amount.

P2 Cosmetics was founded in 2004 as a unit of Austrian lingerie retailer Palmers Textil.

Said to be one of Europe’s leading beauty brands, P2 Cosmetics offers 100% paraben-free and fragrance-free products featuring quality formulas.

P2 Cosmetics’ products are currently available for sale in drugstore retailer DM’s 1,800 stores across Germany. Its products are manufactured in Germany and France.

P2 Cosmetics will continue to operate out of Vienna, Austria under the brand’s current leadership team, further enhancing Maesa Group’s global footprint.

The addition of P2 Cosmetics will complement Maesa’s current product range including Flower, Circa and Elle.

Maesa Group founder and CEO Gregory Mager said: "P2 Cosmetics has a proven track record of bringing innovation to the cosmetic category.

"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."

Through this acquisition, Maesa Group aims to increase its revenues to $350m by 2020.