Groupe Marcelle, the Montreal-based cosmetics developer, manufacturer and distributor, announced today that it has acquired fellow Montreal-based beauty company Lise Watier Cosmétiques.
The move turns Groupe Marcelle into the largest Canadian company in the beauty industry, with 360 people working in the research, development, production and marketing of approximately 1,000 beauty products for four flagship brands: Marcelle, Lise Watier, Annabelle and the recently launched CW Beggs and Sons, a men’s grooming label.
“[This transaction] brings us one step closer to reaching our ambitious objective of becoming one of the 100 largest global cosmetics manufacturers,” said David Cape, president of Groupe Marcelle, in an official release.
“I am pleased that this well-established company with bright prospects for the future has been acquired by a Canadian group,” added Lise Watier, a former TV personality turned entrepreneur. She founded her namesake company in 1968 as the Lise Watier Institute, a charm and beauty school that eventually led her to launch her line of cosmetics, skincare and fragrance. “I am convinced that the significant complementarity between our two organizations will allow Lise Watier Cosmétiques to continue to evolve while preserving its intrinsic brand DNA.”
The acquisition was made possible by an $18-million investment from Caisse de dépot et placement du Québec (CDPQ), a long-term institutional fund manager with $240.8 billion in net assets.