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European Commission authorizes purchase of France-based Arôme by Movendo Capital, Draycott; acquisition concerns the manufacture of luxury glass packaging for cosmetic products and glass insulators through its subsidiary Verescence

May 7, 2025 CE Noticias Financieras 1 min read

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May 7, 2025 (CE Noticias Financieras) –

The European Commission on Wednesday authorized the purchase of French cosmetic glass packaging company Arôme by Movendo of the Netherlands and Draycott of Portugal.

"The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of SSCP Arôme BidCo ('Arôme'), of France, by Movendo Capital, B.V. ('Movendo'), of the Netherlands, and by Draycott FCR ('Draycott'), of Portugal," says a statement from the EU executive.

The acquisition of this company concerns the manufacture of luxury glass packaging for cosmetic products and glass insulators through its subsidiary Verescence.

The European Commission concluded that "the notified transaction did not raise competition concerns, since the companies do not operate in the same or vertically related markets"

At the same time, the acquisition of Arôme was "examined under the simplified merger review procedure".

Movendo Capital is a holding company controlled by the Soares dos Santos family, owners of Jerónimo Martins, while Draycott is an investment manager founded by João Coelho Borges.

Verescence, founded in 1896, has four glass factories and five decorative articles factories in France, Spain, the USA and South Korea, employing more than 2,500 people, and is owned by the British company Stirling Square Capital Partners. Annual production exceeds 600 million glass containers. In 2023, the company recorded a loss of five million euros.

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