Bielenda Group adds Miya Cosmetics, expands its portfolio

Bielenda Group adds Miya Cosmetics, expands its portfolio

Bielenda Kosmetyki Naturalne, backed by its investor Innova Capital, takes over a 100% stake in Kanani Europe, a manufacturer of cosmetics sold under the Miya Cosmetics brand. As part of the deal, TDJ - the existing owner of Kanani Europe - will partially reinvest to and become Bielenda Group's shareholders. The transaction is expected to be completed following approval by the Polish Office for Competition and Consumer Protection.

Miya Cosmetics, which has been consistently growing its business in the Polish cosmetics market since 2016, is well established in the industry and boasts an extensive community of engaged and loyal customers. The brand offers a wide range of products for body, face and hair care, as well as make-up cosmetics. The expansion of the Bielenda Group's portfolio with the Miya Cosmetics range will strengthen the company's position in Poland in several categories and enhance its competitiveness.

Bielenda sees great potential for cross-selling of Miya products in its distribution channels, including traditional and professional sales, as well as the export to foreign markets. As a part of the acquisition, it is also planned to fully exploit synergies in various segments of Bielenda and Miya’s operations. 

“This acquisition further strengthens Bielenda Group and is an expression of our consistent and well-thought-out development plan. The string of acquisitions we completed have been possible due to our consolidation know-how, which, combined with the experience and energy of the entire team of employees and partners of the company, is crucial for our further growth. Our common goal and ambition is to strengthen our position in the domestic market and to compete boldly in global markets. To meet these challenges, we need to focus on continuous growth and capitalizing on the advantages we have - through innovation and product diversity, state-of-the-art R&D laboratory facilities as well as production and logistics capabilities. All this is possible thanks to investments such as the acquisition of Miya Cosmetics. We are delighted that the experienced team of Kanani Europe, with its market-proven competencies and a network of trusted business partners, will join the Bielenda Group structures,” says Marek Bielenda, CEO of Bielenda Kosmetyki Naturalne.

“By adding a complementary cosmetics brand to the Bielenda portfolio, we are delivering on the strategy of strengthening the company's position in Poland in various product categories. Miya Cosmetics has been growing dynamically on the Polish market for years, and our aim is to sustain this growth and to provide the brand with additional development opportunities, both by investing in R&D and leveraging the potential for synergies within the Group in selected areas,” says Leszek Muzyczyszyn, Senior Partner at Innova Capital.

Since 2021, Kanani Europe has been owned by the family-owned investment company TDJ. Over the past few years, TDJ, together with the company's CEO and co-owner Leszek Kłosiński, have successfully worked to expand Miya Cosmetics' product portfolio, enter new distribution channels, and increase its recognition. 

“Since 2021, we have been working to strengthen the Miya Cosmetics’ market position in cooperation with one of the most experienced people in the Polish beauty industry – Leszek Klosinski, who also invested capital in the company. With the involvement of the Kanani Europe team and TDJ Business Excellence’s in-house experts, we succeeded in organic business development, expanding the product range, broadening the offering and developing branded sales in new categories. Miya’s product portfolio has doubled since 2021 and the company's turnover has grown by 70% in two years – with potential for continued growth. The deal structure includes TDJ's reinvestment in Bielenda Group and we are very much looking forward to further cooperation with such experienced partners as Bielenda and Innova Capital,” commented Jacek Leonkiewicz, CEO of TDJ.

The Bielenda Group currently includes the following brands: Bielenda, Bielenda Professional, BodyBoom, FaceBoom and BabyBoom, as well as Bielenda Professional Supremelab, Soraya and Dermika, as well as SheHand, SheFoot and ManFoot SheCare, SkinArté, Tolpa and ON. All its products are available in drugstores and retail chains, as well as in the e-commerce channel.


About Bielenda Kosmetyki Naturalne

Bielenda Kosmetyki Naturalne is a Polish cosmetic company founded in 1990. It creates highly regarded skincare, body care, and hair care products for women and men of all ages, combining natural active ingredients with the latest achievements in biotechnology. The company's product range includes several hundred items across dozens of skincare categories. These products are available in Poland and in nearly 60 countries worldwide, spanning five continents. The company has its own research and development laboratories as well as modern manufacturing facilities. 


About Kanani Europe 

Established in 2015, the company that owns the Miya Cosmetics brand. In 2021, it was acquired by TDJ and Leszek Klosinski. Kanani Europe has, over the last few years, expanded its business with great success to include the distribution of other renowned brands besides Miya.


About TDJ

Founded in 1977, TDJ is a family investment company focused on building long-term value by investing in mature companies with high export and consolidation potential, with their own product. TDJ focuses on the development of the WSE-listed Grenevia Group, around which it is building a portfolio of companies in the broad energy conversion industry, including Impact Clean Power Technology, Projekt Solartechnik, Total Wind and Elgór+Hansen, investing more than PLN 1.5 billion in the sector over the last three years. TDJ's portfolio also includes investments in industrial, automation and veterinary companies. TDJ's activities extend to the real estate and venture capital industries.


About Innova Capital

Innova Capital is an independent private equity adviser operating from Poland and investing in majority buyouts in mid-sized enterprises doing business in Central and Eastern Europe. Since its inception in 1994, Innova Capital has invested close to EUR 1.2 billion in almost 70 companies across 10 countries in the region. Innova was recognized by the Polish Private Equity and Venture Capital Association (PSIK) as PE Management Firm of the Year 2023.