The Italian contract manufacturer aims to reinforce its presence in the U.S. skin and hair care sectors, seeking to fill a gap in its industrial footprint.
“We are proactively trying to buy a company in the US,” said Renato Semerari, CEO of Intercos, in an interview with Bloomberg.
The executive said that Intercos has already identified candidates but remains open to other targets generating between US$100 million and US$200 million in revenue.
While Intercos already operates two U.S. facilities dedicated to makeup — its main area of expertise — Mr. Semerari believes expanding beyond this base is essential to attract major clients or new players with a strong presence in the skincare and haircare markets.
So far, no deal process has begun, and the executive deems it improbable that any agreement will be reached before year-end.
Asia and makeup drive growth
Intercos, which closed fiscal year 2024 with sales of EUR 1.06 billion — up 7.8% from 2023 — has revised its 2025 outlook, now anticipating more moderate growth than the previously projected 5-7% range. Revenue for the first half of the year totaled EUR 524.9 million, a 5% increase year over year.
Growth in the first half was fueled by a solid 17.6% increase in makeup sales, while the skin, body, and hair care segments posted declines.
Asia reinforced its position as the company’s main growth driver (+15.6%), with the Americas also showing solid momentum (+8.8%). In contrast, EMEA was flat year on year, as weakness in hair and body care offset robust makeup growth.
