Sequoia India to acquire Faces Cosmetics Canada from Everstone Capital
Sequoia India has agreed to acquire Faces Cosmetics Canada, with its international subsidiaries and the 'Faces' brand, for an undisclosed amount
Mumbai: Venture capital firm Sequoia India on Wednesday said it had agreed to acquire Faces Cosmetics Canada, a Canadian colour cosmetics brand along with its international subsidiaries and the ‘Faces’ brand from Indivision India Partners, managed by private equity firm Everstone Capital, for an undisclosed amount. The existing management team at Faces, led by chief executive Sharmili Rajput, will continue to manage the business, Sequoia said in a statement. Launched in India in December 2009, the Faces brand was set up over 40 years ago with a presence across North America. It was acquired by Indivision India Partners in 2007.