Verescence welcomes Movendo Capital and Draycott as new stakeholders
This transition marks a pivotal moment for Verescene, which has been at the forefront of glassmaking forever 130 years.
FRANCE – Verescene, a global leader in glass bottle manufacturing for the Perfumery and Cosmetics industries, has announced a significant shift in its ownership structure by welcoming Movendo Capital and Draycott, two family-owned investment holdings, as its new stakeholders.
The arrival of Movendo Capital and Draycott is expected to boost Verescence’s strategic vision, investment plans, and sustainability initiatives, including its decarbonization plans.
Verscene operates across four glass production sites and five finishing sites in Europe, North America and Asia, with a production capacity of 600 million bottles per year.
Thomas Riou, President of Verescence, stated, “We are pleased to welcome new shareholders who support our strategy, investment plans and sustainability program, including our decarbonization roadmap.”
This transition marks a pivotal moment for Verescene, which has been at the forefront of glassmaking forever 130 years.
The company has built a reputation for delivering high-quality, environmentally friendly, and innovative glass solutions to some of the biggest brands in the beauty industry.
Movendo Capital, headquartered in the Netherlands, specializes in managing investments in food value chains and branded consumer goods across Europe and the United States.
Draycott, based in Portugal, is an emerging investment management firm with a strong track record in private investments, having deployed over EUR 2 billion(USD 2.27 billion) in equity across multiple sectors.
The leadership at Movendo and Draycott has emphasized their enthusiasm for acquiring a global leader with an experienced management team that aligns with the value creation strategy.
João Coelho Borges, Founding Partner of Draycott, and Pedro Pereira Gonçalves, CEO of Movendo, said, “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.”
This acquisition follows Verescence’s previous ownership under Stirling Square Capital Partners, a European private equity firm that managed over EUR 3 billion(USD 3.41 billion) in assets. During its tenure, Stirling Square oversaw a EUR 100 million(USD 113.67 million) investment to expand Verescence’s production capacity and automation capabilities.
As Verescence embarks on this new chapter, the company remains committed to its legacy of innovation, craftsmanship, and sustainability, ensuring that its glass solutions continue to set industry standards worldwide.
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