Prior notification of a concentration (Case M.11528 – PAI PARTNERS / BLUEGEM / BEAUTYNOVA) – Candidate case for simplified procedure
Date: 2024-05-16
Institutions: Directorate-General for Competition, European Commission
Subjects: Italy, cosmetics industry, economic concentration, investment company, merger control, toiletries








C_202403227EN.000101.fmx.xml












Official Journal of the European Union


EN
C series













C/2024/3227


16.5.2024






Prior notification of a concentration
(Case M.11528 – PAI PARTNERS / BLUEGEM / BEAUTYNOVA)
Candidate case for simplified procedure
(Text with EEA relevance)
(C/2024/3227)


1.   
On 6 May 2024, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1).
This notification concerns the following undertakings:






—


PAI Partners S.à.r.l. (Luxembourg), controlled by PAI Partners S.A.S (‘PAI Partners’, France),










—


Bluegem Capital S.à.r.l. (‘Bluegem’, Luxembourg), which solely controls Beautynova S.p.A. (‘Beautynova’, Italy).




PAI Partners will acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of Beautynova. For Bluegem, this acquisition will result in a change from sole to joint control of Beautynova within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation.
The concentration is accomplished by way of purchase of shares.


2.   
The business activities of the undertakings concerned are the following:






—


PAI Partners is a private equity firm that manages several funds investing in the business services, food and consumer goods, general industrials and healthcare sectors,










—


Bluegem Capital is a pan-European private equity firm with a policy of investing in European consumer businesses in sectors such as consumer health, home care, baby care, food and beverage, pet care and beauty and personal care. Bluegem Capital currently solely controls Beautynova, which is an Italian-based independent manufacturer and supplier of haircare products to the professional haircare sector. Beautynova is primarily active in Italy and, to a lesser extent, in all other EU Member States.






3.   
On preliminary examination, the Commission finds that the notified transaction could fall within the scope of the Merger Regulation. However, the final decision on this point is reserved.
Pursuant to the Commission Notice on a simplified treatment for certain concentrations under Council Regulation (EC) No 139/2004 on the control of concentrations between undertakings (2) it should be noted that this case is a candidate for treatment under the procedure set out in the Notice.


4.   
The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.
Observations must reach the Commission not later than 10 days following the date of this publication. The following reference should always be specified:
M11528 – PAI PARTNERS / BLUEGEM / BEAUTYNOVA
Observations can be sent to the Commission by email or by post. Please use the contact details below:
Email: COMP-MERGER-REGISTRY@ec.europa.eu

Postal address:





European Commission




Directorate-General for Competition




Merger Registry




1049 Bruxelles/Brussel




BELGIQUE/BELGIË







(1)  
            OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’).

(2)  
            OJ C 160, 5.5.2023, p. 1.


ELI: http://data.europa.eu/eli/C/2024/3227/oj
ISSN 1977-091X (electronic edition)