El rey de los frascos de perfume vende su filial industrial española

Spanish luxury perfume bottle maker Verescence has hired investment bank Lincoln to explore the sale of its industrial Spanish subsidiary, La Granja Insulators. The French company, which is the global leader in glass bottles for luxury perfumes, is working with Lincoln International as a financial advisor to investigate the potential sale of its high-voltage electrical insulator producer, La Granja Insulators.

The transaction is still in its early stages but has already attracted significant interest from major venture capital funds in Spain due to the growing demand for electricity in the automotive, heating, industrial, and data center sectors. With annual revenues exceeding €50 million and an EBITDA of nearly €20 million, La Granja Insulators is the second-largest company in its sector in Europe, behind Italian rival Sediver, which is owned by Blackstone since 2024.

Lincoln International also advised Triton in the sale of Sediver to Blackstone. La Granja Insulators is headquartered in La Granja de San Ildefonso, Segovia. The company currently operates at full capacity for both its electrical insulators and perfume bottle production, and is finalizing plans for expansion, which could include the construction of a new facility to double its production capacity in the future.

Any new owner would need to contribute resources to fund this growth plan. The transaction is still under preparation and will not be publicly announced until the expansion plan is finalized. Electrical insulators for high-voltage towers are a critical product, and there are currently waiting lists of over a year to obtain them.

Verescence, which is owned by Portuguese private equity firms Movendo Capital and Draycott, produces these insulators alongside its primary business of perfume bottles. Verescence serves major customers such as LVMH, L'Oréal, Hermès, and Puig, supplying them with luxury perfume bottles like Dior's J Adore, Hermès' Terre d'Hermès, and Carolina Herrera's La Bomba Eau de Parfum.