Verescence, the world leader in glass bottles for the perfumery and cosmetics industries, announce on Monday, May 26, the arrival of the consortium composed of Movendo Capital and Draycott, two family-owned investment holdings, as the group’s new shareholder.
With 130 years of glassmaking know-how, Verescence is a privileged partner of the biggest brands in the beauty industry. Verescence produces 600 million bottles per year in its four glass production sites and five finishing sites in Europe, North America and Asia. In 2024, Verescence employed 2,500 people worldwide.
Verescence was previously owned by Stirling Square Capital Partners, a European private equity firm, which currently manages more than EUR 3 billion in assets. During its ownership, Stirling Square oversaw a EUR 100 million (USD 113 million) investment to expand the glassmaker’s production capacity and automation capabilities.
“We are pleased to welcome new shareholders who support our strategy, investment plans and sustainability program, including our decarbonization roadmap. We are convinced that this project is positive for all our employees, our customers and our partners,” comments Thomas Riou, President of Verescence.
João Coelho Borges, Founding Partner of Draycott, and Pedro Pereira Gonçalves, CEO of Movendo, concluded: “We are delighted to acquire a global leader with a strong and experienced management team that is perfectly aligned with our value creation strategy. Verescence’s leading position in the industry aligns with our investment criteria in several key dimensions. By combining management’s expertise with our own, we aim for sustainable growth and value creation for all stakeholders.“
