Stirling Square sells luxury glassmaker Verescence to Movendo and Draycott Consortium

FRANCE – Stirling Square Capital Partners has completed the sale of Verescence, a leading global producer of luxury glass packaging, to a consortium comprising Movendo Capital and Draycott.

The transaction marks the end of a transformative chapter under Stirling Square’s ownership and signals a new era for the French heritage brand.

Founded in 1896, Verescence has a long-standing reputation as a trusted supplier of high-end glass packaging to premium beauty brands such as Hermès, LVMH, and L’Oréal.

Headquartered in France, the company operates manufacturing facilities in France, Spain, North America, and South Korea, employing around 2,500 people.

With an annual production capacity of 600 million bottles, Verescence has become a global leader in sustainable, innovative glass solutions for the beauty and cosmetics sector.

Since acquiring Verescence in 2019, Stirling Square has overseen a strategic transformation of the business.

This included a €100 million (US$113.62m) investment in capacity expansion and automation, along with the acquisition of a South Korean manufacturing plant in 2021.

These efforts significantly boosted Verescence’s global reach and enhanced its ESG (environmental, social, and governance) credentials—most notably enabling the production of glass bottles made entirely from recycled materials.

The results of this transformation have been impressive. Under Stirling Square’s stewardship, Verescence’s revenue surged by 40% to reach €421 million (US$478.33m), while EBITDA more than tripled to over €80 million (US$90.89m).

CEO Thomas Riou credited Stirling Square for supporting the company’s global expansion and innovation push, particularly in digital transformation and the extension of its skincare packaging portfolio.

“We have evolved into a more data-driven organisation while meeting the growing sustainability demands of our clients,” said Riou.

The new owners, Movendo Capital and Draycott, bring a shared vision of continued growth and value creation. João Coelho Borges of Draycott and Pedro Pereira Gonçalves of Movendo expressed their confidence in Verescence’s leadership team and market positioning.

They aim to leverage their combined expertise with Verescence’s operational excellence to accelerate global growth and maintain the company’s leadership in sustainable luxury packaging.

Stirling Square, which has a strong investment track record in France with companies like Médisup and AD Industries, exits Verescence having executed a value-enhancing transformation that positions the company for long-term success under its new ownership.

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