Borletti Group acquires the 100% of Pinalli. Exit for High Capital

Borletti Group acquires the 100% of Pinalli. The cosmetics and perfumery chain currently has more than 100 stores and approximately 200 million euros in revenue.

The independent investment firm, founded by Maurizio Borletti and Paolo De Spirt, thus takes over from High Capital, which had become the largest shareholder in the early months of 2023.

CEO Rossetti and the rest of the management confirmed. Maurizio Borletti as chairman

The business plan will continue to be managed by the current management team, and Raffaele Rossetti, chief executive officer since 2018, will lead the next phase of development together with the existing management and Maurizio Borletti, who will take on the role of chairman.

In the coming years, the company aims to accelerate its growth trajectory through the expansion of its network and further development of its e-commerce channel.

Strengthening its own brand and broadening its offering, with particular attention to the most innovative and emerging brands, represent further strategic directions.

Maurizio Borletti

Pinalli to become increasingly omnichannel

Founded in 1984 in Fiorenzuola d’Arda (Piacenza), Pinalli has developed an omnichannel distribution model that integrates a network of more than 100 beauty stores, primarily located in the highest-income areas of northern Italy, with its own e-commerce platform.

The online channel accounts for approximately 30% of total sales and records around 32 million visits annually.

The chain offers an assortment of more than 400 brands in the perfumery, skincare and make-up segments, complemented by a rapidly growing own-brand line.

The company, which has more than 800 employees, recorded, during the period 2022-2025, a compound annual growth rate of more than 15 per cent.

Where Borletti Group invests

Borletti Group has more than 20 years of experience in investing in companies such as Rinascente, Printemps, Grandi Stazioni Retail, Twinset, True Religion...

The transaction was supported by J. Safra Sarasin Asset Management as anchor investor and was carried out through an investment vehicle promoted and led by Borletti Group and backed by a pool of co-investors, including the Pinalli family itself, with a minority stake.

Borletti Group has offices in London and Luxembourg. Active since 2005, it has led private equity acquisitions with a total value of approximately 3 billion euros, participating in transactions totalling approximately 8 billion, including individual co-investments of up to 1 billion.

This article was translated from the original Italian version with the assistance of artificial intelligence. In case of discrepancies, please refer to the original Italian version.