Milan-headquartered Fondo Strategico Italiano (FSI) has taken 35% share in Italian cosmetics packaging maker Lumson. The Moretti family remains the majority owner with a 65% share. “The investment includes a capital increase and a convertible bond. Post transaction, Lumson will have no financial indebtedness and a sound capital structure to pursue its growth plan,” explained FSI in a release.
Founded in 1975 by Remo Moretti and headquartered in Capergnanica, near Crema, Lumson operates at the heart of the cosmetics packaging industry in the Italian Lombardy region. The company designs and manufactures both standard and customized primary packaging solutions for the cosmetics industry, including well-known Italian and international brands. The company employs approximately 550 staffs and has two production sites in Italy as well as commercial subsidiaries in the US, France, Spain and Germany, with forecasted revenues of about EUR 100 million in 2018.
“I am very pleased about the FSI partnership, a prestigious and patient Italian investor with an international network. The investment will provide Lumson with new resources to finance its growth, led by R&D and innovation. The Moretti family is very proud of this agreement, which further enhances our family’s long term commitment to Lumson,” said Matteo Moretti, Chairman at Lumson.
The seven persons Board of Directors will include Remo Moretti, as Honorary Chairman, Matteo Moretti, as Chairman, Paolo Valsecchi, as CEO, Giovanni Broggiato, as Vice Chairman and CFO, Marco Tugnolo, Investment Director at FSI, Carlo Bozotti, Industrial Partner at FSI and former CEO at STMicroelectronics.