Investment date: May-25
Status: In Portfolio
Acquisition of French company Verescence is the largest investment ever led by a Portuguese private equity firm
Draycott’s new acquisition consolidates the asset manager’s international growth, with two cross-border investments totaling €720 million in less than a year.
Following the entry of Purever in 2024, Draycott, a diversified alternative asset manager that combines private capital with selected family wealth, has now made a second international investment in less than a year by acquiring Verescence, a global leader in glass packaging for the luxury beauty and cosmetics sector. The €490 million transaction represents the largest investment led by a Portuguese private equity firm, according to TTR Data.
With an industrial presence in Europe, North America, and Asia-Pacific, Verescence holds a global market share of approximately 21%. A strategic partner of brands such as Chanel, LVMH, Hermès, and L’Oréal, the company combines over 130 years of experience with innovation, technical excellence, and a commitment to sustainability, offering a differentiated portfolio of decorated and patented solutions.
Seen as a unique investment opportunity in a global market leader, Draycott is now preparing to support Verescence’s next phase of growth by leveraging its expertise in operational efficiency, strategic portfolio evolution, and sustainability leadership. At a time when the luxury segment is growing at an annual rate of 6.7% (CAGR 2023–2028), the deal, for which Draycott raised funds from Movendo Capital, presents a highly attractive return profile, consolidating the asset manager’s strategy of focusing on premium sectors, with leading assets, and a highly disciplined global approach.
“This transaction reflects the core of what we do at Draycott: identify globally differentiated assets in segments with long-term tailwinds and execute high-impact investments with precision. Leading the execution of a transaction of this dimension — across jurisdictions, stakeholders, and timelines — reinforces the strength and discipline of our team”, adds Vanessa Moura Brás, investment partner at Draycott.