EBRD Invests in Polish Cosmetics Giant Bielenda, Facilitating Strategic Acquisitions

(IN BRIEF) The European Bank for Reconstruction and Development (EBRD) has acquired an indirect minority stake in the renowned Polish cosmetics brand Bielenda through a €33.9 million investment in its holding company, Innova Central Holding SCA, alongside private equity fund Innova/6. This investment has facilitated Bielenda’s strategic acquisition of two complementary skincare brands, Tolpa and Miya, enhancing its market position and product portfolio. With a focus on environmental, social, and governance (ESG) principles, Bielenda aims to strengthen its operations, foster inclusive human capital development, and expand its innovative capabilities. The collaboration between EBRD, Innova Capital, and Bielenda underscores a shared commitment to sustainable growth in the cosmetics sector.

(PRESS RELEASE) LONDON, 29-Apr-2024 — /EuropaWire/ — The European Bank for Reconstruction and Development (EBRD) is investing in the leading Polish cosmetics brand Bielenda. The Bank has acquired an indirect stake in the company through a €33.9 million investment in Bielenda’s holding company, Innova Central Holding SCA, which is controlled by the private equity fund Innova/6, where the EBRD is also a limited partner.

The EBRD’s investment has enabled Bielenda to acquire two well-known brands on the Polish market – Tolpa and Miya. The purchase will allow Bielenda to increase its product portfolio and market share, and leverage  the digital skills of its investee companies to improve operational efficiency.

With these acquisitions, Bielenda consolidates its position as a market leader in the Polish skincare and cosmetics segments.

Tamas Nagy, EBRD Co-Head of Private Equity, said: “We are pleased to continue our strong cooperation with Innova Capital, and support Bielenda with this equity injection to drive its mergers and acquisitions strategy. These strategic acquisitions will allow Bielenda to benefit from synergies with Miya and Tolpa, to become a much stronger player and an attractive target for potential strategic buyers in the future.”

Elisabetta Falcetti, EBRD Head of Poland and the Baltic States, said: “Our investment in Bielenda alongside Innova/6 is a perfect example of how the EBRD adds value to the Polish market. It supports the growth of the private equity ecosystem in Poland and strengthens a key player with a robust ESG [environmental, social and governance] mandate. We are delighted that Bielenda has committed to ambitious ESG targets for its business operations, production and packaging. As part of the EBRD’s investment, Bielenda has also pledged to extend equal opportunities best practices to its staff, fostering inclusive human capital development.”

“The EBRD’s investment confirms Bielenda Group’s position as one of the leaders in the Polish cosmetics market,” noted Marek Bielenda, CEO of Bielenda Kosmetyki Naturalne. “The support in the acquisition of the Tolpa and Miya brands will allow us to develop even more dynamically, diversify our portfolio more strongly, increase our market share further, and strengthen our investment in innovation and the competence of the entire company team. We consider the decision on the partnership as a sign of the attractiveness of the Polish cosmetics market, in which we are a key player, and an expression of trust in the Bielenda Group’s development strategy, implemented together with Innova Capital.”

Leszek Muzyczyszyn, Senior Partner at Innova Capital, stated: “We are extremely excited to partner with the EBRD in empowering Bielenda’s growth in the Polish cosmetics sector. Through strategic investments, Bielenda has consolidated a number of other companies and brands, with the recent acquisitions of Tolpa and Miya solidifying its market leadership. This collaboration exemplifies our dedication to fostering Bielenda’s growth and underscores our shared vision for sustainable development in the sector.”

Bielenda Kosmetyki Naturalne (Bielenda) is a Polish cosmetic company founded in 1990. It creates highly regarded skincare, body care and hair care products for women and men. Its products are available in Poland and in nearly 60 countries worldwide. The company has its own research and development laboratories as well as modern manufacturing facilities.

Innova Capital is an independent private equity adviser operating from Poland and investing in majority buyouts in mid-sized enterprises doing business in central and eastern Europe. Since its inception in 1994, Innova Capital has invested close to €1.3 billion in almost 70 companies across 10 countries in the region.

The EBRD is among the leading institutional investors in Poland. Since the start of its operations in the country in 1991, the Bank has invested more than €14 billion in 519 projects. Last year the Bank invested a record €1.3 billion in Poland.

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SOURCE: EBRD