Mint Capital, the private equity fund, has invested USD 8 million for a blocking stake in Russian cosmetics chain Mone. The investment is to be used to expand their chain to at least eighty-five new locations in Moscow, St. Petersburg and the rest of Western Russia.
Mone (www.salonemone.ru)
Mone is Russia’s second largest beauty salon specializing in branded cosmetic and beauty products and services. The company operates seventeen salons in Moscow and St. Petersburg, as well as a training center. It pioneers in the market by offering their services in the middle premium segment.
Russia’s beauty sector is worth $5 billion according to the last financial year’s report and is predicted to expand.
Mint Capital (www.mintcap.ru)
Mint Capital was founded as a private equity investment group in 2000. Its goal is to invest in companies in Russia and the surrounding regions.
Headquartered in Moscow, the company employs ten investment professionals. Mint Capital’s investments are now estimated to be USD 130 million in its two operating funds, Mint I and Mint II.
20/07/2007
Central & Eastern Europe, Consumer Goods, Investment, Private Equity News, Russia