THE WHAT? Universal Beauty has raised €6 million from a group of investors led by Connect pro in order to develop its Vegetalement Provence brand.
THE DETAILS BMP Paribas Developpement and Etoile Capital were also named among the investors. Universal Beauty Group Founders Vincent Faraco and Jean-Marc Delabre will remain reference shareholders and continue to lead the firm.
“We were won over by the commitment and geographic proximity of Connect Pro and its co-investors to help companies of our region to grow in France and internationally,” commented Faraco.
THE WHY? Franck Paoli, President and Founder of Connect Pro, explains, “We are proud to invest in Universal Beauty Group, which will be the first investment of our new Sud Rebound fund launched in June this year. This venture in the heart of the local economic ecosystem is fully in line with our strategy to support the development of key business in our region.”