Egyptian Company for Cosmetics (“ECC”), an Egypt-based specialised contract manufacturer for the cosmetics and personal care industries, has acquired a majority stake in beauty products marketplace Source Beauty, for an undisclosed amount.
Founded in 2018, Source Beauty is a female-led one-stop shop that provides users with multiple choices of local and international beauty brands.
Al Tamimi & Company has advised and represented ECC in their investment in Source Beauty. The legal team worked on all aspects of the transaction, including due diligence, drafting all transaction documents and global closing mechanics.
The transaction involved the extension and transfer of the “Keep It Simple” Securities (KISS) notes held by minority investors.
The Egypt- based deal was led by Ehab Taha (partner, head of corporate commercial, pictured) with support from senior counsels Zeinab Shohdy and Amr Hamdy as well as senior associate Seif Nour.