Vallis Sustainable Investments I acquires 60% of Castelbel
VALLIS SUSTAINABLE INVESTMENTS I informs that it has agreed to acquire 60 percent of the share capital of CASTELBEL.
CASTELBEL is a leader in the production and retailing of soaps and other scented luxury products for home and body.
CASTELBEL, under the leadership of its founder and CEO, Mr. Aquiles Barros, has shown a strong growth path in recent years. Its products are distinguished by a combination of design excellence with exquisite fragrances and the finest formulations. CASTELBEL has been honored as “PME Excelência” since 2012 and in 2015 reached a record turnover of about 8 million Euros, after three years in which the average annual growth was over 30%. CASTELBEL exports over 80% of its sales to about 50 countries, which reflects the international reputation of its brands (CASTELBEL and PORTUS CALE) and its products in challenging markets such as the USA and the UK.
VALLIS SUSTAINABLE INVESTMENTS I executed this acquisition in the context of the previous majority shareholder divestment. The founding shareholders remain in the capital of CASTELBEL, and will continue to assume their executive functions in the management team.
VALLIS SUSTAINABLE INVESTMENTS I will support the management team in implementing its international growth plan, strengthening its strategic corporate functions in order to maintain business excellence and profitability levels at today’s levels. In accordance to the Portuguese Law this transaction is subject to the non-opposition decision from the Portuguese Competition Authority.