Weekly Recap: Highlights from the Private Equity Sector
In the dynamic world of business, changes are afoot for two well-known names – celebrity chef Gordon Ramsay and beauty entrepreneur Mona Kattan of Huda Beauty.
Gordon Ramsay, renowned for his international restaurant empire, has partnered with Megaworld, a prominent property giant, to expand his business. This collaboration is particularly notable for their joint venture in Mactan Newtown, Cebu. Additionally, Ramsay has consolidated all his restaurant operations under the umbrella of Gordon Ramsay Restaurants, which will now be jointly owned by Ramsay and private equity firm Lion Capital, each holding a 50% stake. The merger brings fresh private equity backing from Lion Capital to drive international expansion.
Meanwhile, in the beauty industry, Huda Beauty has made a significant move. The brand, known for its popular products, has decided to sell its fragrance brand, KAYALI. Co-founder Mona Kattan and private equity firm General Atlantic will be the new owners, paving the way for Huda Beauty to regain full founder ownership. KAYALI, founded under the Huda Beauty umbrella in 2018, has quickly become a powerhouse in the luxury fragrance industry, celebrated for its bold scent layering philosophy.
The sale of KAYALI marks a rare milestone in the beauty industry, as it signifies a major step towards independent ownership for Huda Beauty. This move comes as Unilever, the current owner of the ice cream division, plans to spin off its ice cream business and launch an IPO in Amsterdam by 2025. Unilever's ice cream division, with a global market share of 20%, generated €8.3bn in sales last year and could be valued at up to £15bn.
Unilever aims to streamline its focus on higher-growth segments such as beauty and health, which aligns with the strategy of many modern businesses. The sale of KAYALI, along with the planned spin-off of the ice cream division, reflects this trend towards specialisation and growth in specific sectors.
As these changes unfold, both Gordon Ramsay and Huda Beauty are poised to continue their growth trajectories, with new leadership and strategic partnerships in place. The future looks bright for these two powerhouses in their respective industries.
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