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Korres to sell majority stake
(MENAFN) Korres SA, the Greek cosmetics company has declared a deal with the Chinese Profex Inc and Morgan Stanley North Haven Private Equity Asia IV.
According to founder and CEO of Korres SA Natural Products, pharmacist George Korrres, based on the deal, Korres family will keep 30% of the company with the two new investors holding 70%.
He said: "2018 will be a landmark year for the group as we move forward with an excellent alliance that will offer us the possibility of further growth. The aim of the agreement is to expand in international markets and to establish the brand globally."
Korres SA would be the second Greek natural cosmetics firm announcing a huge partnership with foreign investors aimed at further expansion abroad.
According to founder and CEO of Korres SA Natural Products, pharmacist George Korrres, based on the deal, Korres family will keep 30% of the company with the two new investors holding 70%.
He said: "2018 will be a landmark year for the group as we move forward with an excellent alliance that will offer us the possibility of further growth. The aim of the agreement is to expand in international markets and to establish the brand globally."
Korres SA would be the second Greek natural cosmetics firm announcing a huge partnership with foreign investors aimed at further expansion abroad.
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