Italian manufacturer of cosmetic bottles, jars and pump systems, Lumson has acquired Marino Belotti, a specialist in high-end makeup cases.
With the deal, the group confirms its interest in a market where it took its first steps in 2017 with the acquisition of Leoplast, manufacturer of lipstick cases. With a 5,500m2 production site near Bergamo, Marino Belotti reports a turnover of around €16m and has a staff of sixty. The previous shareholders and managers, Maria Teresa Belotti and her son Alfredo Gavazzeni, will continue their operational roles in the company. These assets will be added to Lumson’s four plants in northern Italy.
The company has seen significant growth over the past 10 years: between 2009 and 2018, turnover grew from €27m to €96m, an average annual increase of 15%—quite a success for this family group managed by Matteo Moretti, son of the founder and joined two years ago by general manager Paolo Valsecchi. In order to finance its development, Lumson sold 35% of its capital to investment fund Fondo Strategico Italiano in 2018. In terms of organic growth, it recently invested €15m in a site in Capergnanica that includes its head office, a new plant dedicated to plastic injection, the assembly of atmospheric and airless pumps and the decoration of glass and plastic, as well as a fully automated warehouse.
With 70% of its sales outside Italy and France and the US currently its leading markets (22% and 20% of sales respectively), Lumson is now looking to international growth. Its managers make no secret of the fact that they are targeting Asia, particularly China, where increasing purchasing power is driving demand for high-end beauty products. An industrial site is therefore a possibility.
