After a competitive auction process, Trinitas Equity Partners has acquired Avroy Shlain, a direct-sales cosmetics business, from US-based multinational Tupperware Brands Corporation, in partnership with two local family offices. The deal gives Trinitas and the family offices a majority shareholding in the business, with Avroy Shlain’s management team holding the remaining significant minority stake. Investec Private Capital provided debt facilities for the deal.
The Johannesburg-based private equity firm declined to disclose the value of the deal but did confirm that Andrew Hall, one of Trinitas’s founders, and his colleague Yousuf Sujee, a principal at the firm, will be on the company’s board.
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