NEWS
02/18/2016 16:47 EST | Updated 02/18/2017 00:12 EST

Montreal-based cosmetics company Groupe Marcelle buys Lise Watier

MONTREAL — Groupe Marcelle Inc., a developer, manufacturer and distributor of cosmetics, has acquired Lise Watier Cosmetiques in a deal that includes an $18-million investment by Quebec's pension fund manager.

"Through this transaction, Groupe Marcelle will become the leading Canadian company in the beauty industry," said David Cape, president of the Montreal-based firm.

"It brings us one step closer to reaching our ambitious objective of becoming one of the 100 largest global cosmetics manufacturers."

Financial details were not disclosed but the Caisse de depot et placement du Quebec injected $18 million into the deal.

"This $18-million investment by the Caisse will bring together two high-quality Quebec companies to create a new industry champion," said Christian Dube, a Caisse executive vice-president.

Four flagship brands will be maintained: Marcelle, Lise Watier, Annabelle and CW Beggs and Sons.

Since 2007, the main shareholder in Lise Watier had been Ontario investment fund Imperial Capital.

The Canadian Press