Vinci Partners, through its Vinci Capital Partners III, agreed to acquire Brazil-based cosmetics platform Farmax for an undisclosed amount.
(Press Release) Vinci Partners Investments Ltd. (NASDAQ: VINP) (“Vinci Partners”, “we”, “us” or “our”), the controlling company of a leading alternative investment platform in Brazil, announced today that “Vinci Capital Partners III”, or “VCP III” (“the Fund”), the family of funds managed by Vinci Partners’ Private Equity strategy, has entered into a definitive agreement for the acquisition of Farmax (“the Company”), a Brazilian company operating in the cosmetics and personal care industry.
This transaction marks VCP III’s fifth investment, resulting in a 61.3% cumulative gross allocation of the Fund’s total capital commitments and a 71.1% allocation including incurred expenses. The Fund was marked at a 50.6% gross IRR in BRL and 25.7% in USD at the end of the first quarter of 2021.
Farmax is a leading manufacturer of beauty and personal care cosmetic products in Brazil, with over 40 years of existence. The Company has a nationwide distribution capillarity and produces a wide range of products, with over 450 items in its catalog.
Gabriel Felzenszwalb, partner and senior member of the Private Equity team for Vinci Partners, said, “Farmax has a unique trajectory, having established itself in the market as a company with tradition, legacy and a solid reputation. The cosmetics sector is growing rapidly, and we are very confident that our investment will support the Company and its top-notch management team in its process of becoming an even more relevant player in the marketplace. VCP III’s investment sets the start for a new accelerated expansion cycle for Farmax.”