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Matas acquires makeup firm Kosmolet A/S
May 29, 2019

Matas has acquired Danish-based Kosmolet A/S, owner of the makeup brand Nilens Jord. As Matas already distributes Nilens Jord, the acquisition has limited effect on revenue, but expects to boost Matas EBITDA with DKK 25m post-integration. The deal is valued at DKK 145m plus an additional earn-out of up to DKK 20m. Kosmolet generated EBITDA of DKK 19.4m in 2018 corresponding to an EV/EBITDA multiple of 7.5x.

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