CriteriaCaixa is set to invest in Puig Brands through its Initial Public Offering (IPO), acquiring B shares representing 3.05% of the share capital. The investment amounts to 425 million euros and reflects Criteria’s strategy of investing in leading companies in attractive sectors with growth potential.
Puig, a fine perfumery group, has a strong presence in the fashion and beauty industry and has shown resilience in times of crisis. The company will make its stock market debut on May 3, breaking a five-year drought in Spanish listings. Puig has placed its shares at a price of 24.5 euros, with a market capitalization of 13,920 million euros.
Puig specializes in perfumery and fashion, with a market share of 11% in niche fragrances. The company operates in 32 countries, employs over 11,000 people, and owns 17 brands, including Rabanne, Charlotte Tilbury, and Carolina Herrera. Spain represents 7% of Puig’s income, with the US and England as its main markets. Experts predict that Puig could become part of the Ibex 35 index by the end of the year due to its size and market presence.
CriteriaCaixa is pleased with Puig’s shareholder remuneration policy, which includes distributing 40% of the group’s profits among investors. The investment is expected to generate positive returns for CriteriaCaixa due to Puig’s strong financial performance and growth prospects.
The move by CriteriaCaixa marks a significant milestone for Puig Brands as it prepares to go public for the first time since it was acquired by KKR four years ago. With its rich portfolio of brands and strong presence in key markets such as the US and England, Puig has proven itself as a resilient player in an ever-changing industry.
As one of Spain’s largest banks, CriteriaCaixa has long been committed to investing in companies that have growth potential and are well-positioned to succeed long-term. By investing in Puig Brands through its IPO, CriteriaCaixa is signaling that it believes this company fits those criteria perfectly.
Overall, the decision by CriteriaCaixa to invest in Puig Brands through its IPO is an exciting development for both parties involved. It signals continued confidence in the Spanish economy and highlights how even during difficult times there are still opportunities for growth and success if you take calculated risks.
