Angelini Industries
Give Back Beauty signs agreement with Angelini Industries to acquire AB Parfums, formerly known as Angelini Beauty
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Rome, 31 January 2025 – Angelini Industries and Give Back Beauty (GBB) have signed an agreement for GBB to acquire AB Parfums SpA, formerly known as Angelini Beauty SpA, along with its subsidiaries, assets, brands, and licenses.
AB Parfums specializes in creating, developing, marketing, and globally distributing fragrances for fashion brands, including Italy’s Trussardi, whose fragrance brand is owned by AB Parfums, and Laura Biagiotti. Additionally, it distributes major L’Oréal Group brands, such as Ralph Lauren, Maison Margiela, Cacharel, Diesel, Azzaro, and Viktor & Rolf.
Operating in key markets like Italy, Germany, Austria, Switzerland, Belgium, the Netherlands, Luxembourg, Spain, and Portugal, AB Parfums has approximately 200 employees.
Founded in 2013 as Angelini Beauty, AB Parfums has been part of Angelini Industries — a multinational Italian group operating in health, industrial technology, and consumer goods sectors, with 5,800 employees across 21 countries and €2.1 billion in revenue in 2023. Over the years, Angelini’s consistent investment fueled AB Parfums’ steady growth.
GBB, whose brand portfolio is continuously expanding, is now an exclusive global partner for brands like Tommy Hilfiger, Elie Saab, Chopard, Zegna, Philipp Plein, and Mercedes-Benz. It also collaborates with Dolce&Gabbana, Olaplex, and Billie Eilish through hybrid distribution and business models and serves as an incubator for celebrity-driven brands such as Florence by Mills (Millie Bobby Brown) and Blake Brown (Blake Lively). In just four years, GBB has grown its net revenue from €42 million to over €300 million, aiming to exceed €400 million in 2025. Its products are sold in over 130 countries, bolstered by its expertise as a brand builder and its unique value proposition, that includes strong social responsibility, a multi-category product offering, an extensive global distribution network, digital excellence, and tailored partnership models for brands and celebrities.
The integration of AB Parfums will strengthen GBB’s competitive edge in the beauty market, particularly in fragrances.
Corrado Brondi, Founder and President of Give Back Beauty, commented:
“AB Parfums will operate within the GBB Group as a dedicated business unit for European lifestyle and prestige brands within the fragrance and beauty sectors, while our Paris unit will lead luxury brands, and our two North American units will handle American fashion brands and celebrity beauty projects. This acquisition also reinforces GBB's ‘direct-to-retail’ distribution in key countries like Italy, Germany, and Spain. Outside Europe, GBB has distribution hubs in the UK, USA, and Canada, alongside regional offices in Latin America, the Middle East, Asia, and Oceania.”
Sergio Marullo di Condojanni, CEO of Angelini Industries, stated:
“Our priority as entrepreneurs is to grow and develop the businesses we own. Over the years, we have supported AB Parfums and its management team, whom we sincerely thank for their excellent work, in consolidating and growing the company. We believe, however, that AB Parfums can now fully realize its potential within the GBB group—a best-in-class player in fragrances and beauty. As a group, we are increasingly focused on two primary development areas: our long-established pharmaceutical business and industrial technology, where we acquired full control of Fameccanica, now Angelini Technologies, in 2022.”
Angelini Industries was supported by Rothschild & Co as a financial advisor, EY for financial due diligence, and Bain & Company for commercial aspects, with legal matters handled by Angelini’s in-house legal team. For GBB, Perani Pozzi Associati advised on intellectual property, and Deloitte provided accounting, tax, and legal guidance. For this transaction, BNL BNP Paribas served as the global coordinator and sole underwriter.
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Angelini Industries is a multinational industrial group founded in Ancona, Italy in 1919 by Francesco Angelini. Today, it is a solid and well-structured industrial business with around 5,800 employees operating in 21 countries worldwide, with revenues of 2.1 billion euros generated in the health, industrial technology and consumer goods sectors. Its growth-oriented investment strategy, constant commitment to research and development, and deep knowledge of markets and business sectors make Angelini Industries an Italian leader in the sectors in which it operates. For over 100 years, the Angelini family has guided the evolution of Angelini Industries with an entrepreneurial style that is typical of Italian family capitalism.
Give Back Beauty is a privately-owned global beauty company specializing in the creation, production, marketing, and distribution of beauty brands spanning fragrances, skincare, makeup, haircare, and body care. Operating in over 130 countries with a team of 400 employees across 14 locations, GBB has grown sevenfold in four years, becoming one of the fastest-growing companies in beauty. Its Indie & Talent division serves as an incubator for celebrity-driven brands, such as Florence by Mills and Blake Brown, and manages licenses for global names like Tommy Hilfiger, Chopard, Zegna, and Mercedes-Benz. Through joint ventures and other hybrid and evolutionary business models, GBB is also a strategic and distribution partner for leading fragrance and beauty brands like Dolce&Gabbana, Billie Eilish, and Olaplex. (givebackbeauty.com)
Media contacts:
Angelini Industries
Alessandra Favilli – Group Chief Communication Officer
alessandra.favilli@angeliniholding.com – press@angeliniindustries.com
Give Back Beauty
Daria Virginia Danelli – Director at Brunswick Group
Flavia Orlandi – Account Director at Brunswick Group