MCF advises Berner on the acquisition of Naviter Ltd a rapidly growing cosmetics company
Berner Ltd (“Berner”), has acquired Naviter Ltd (“Naviter”), a Finnish manufacturer of organic skin and hair care products. Naviter has grown over 40% annually over the recent years, and its innovative brands complement Berner’s product portfolio, creating new growth opportunities according to Berner’s strategy. The transaction was signed and closed on 2 December 2021. MCF acted as adviser to Berner and helped to facilitate the transaction.
The Deal
Berner has a long history in the Finnish cosmetics industry. The company’s first product from its own research and development is the XZ hair care oil, which was developed back in 1952. Berner has expanded its pharmacy portfolio with the newly launched LV Oat product line, and with the acquisition of Naviter, the company will now also expand into skin and hair care categories for professional use.
The Target
Naviter Ltd is a fast-growing Finnish cosmetics company that develops and manufactures innovative skin and hair care products in Helsinki. Naviter specialises in professional, organic and medical cosmetics, as well as products suitable for sensitive skin. The company’s net sales stood at EUR 5.7 million in 2020 and it employs over 30 people.
About Berner
Berner Ltd is a Finnish family business of four business units, founded in 1883, where high-quality Finnish and international brands are an integral part of the Finnish daily life. Berner’s well-known brands manufactured in Finland include LV, XZ, Herbina and the represented cosmetics brands include, for example, Sensai, Clarins, Isadora and Nuxe. In 2020, the Group’s turnover was EUR 324.3 million, and it employed 536 people in Finland, Sweden, Norway, and the Baltics.
