L Catterton Announces Combination of Bel Cosméticos and Mundo do Cabeleireiro to Create Leading Beauty Retailer in Brazil

SÃO PAULO, March 9, 2026 /PRNewswire/ -- L Catterton today announced the combination of Bel Cosméticos ("Bel") and Mundo do Cabeleireiro ("Mundo"), creating the largest multi-brand specialty beauty retail platform in Brazil, with more than 130 stores across key Brazilian states.

The transaction brings together two highly complementary category leaders. Founded over three decades ago, both companies have built strong regional brands and customer loyalty by offering curated assortments of beauty products at compelling value. With limited geographic overlap and complementary regional strength, the combination establishes a scaled platform with an expanded national footprint, well positioned to serve consumers and brand partners throughout Brazil.

The combined company will leverage its increased scale to expand its assortment in haircare, skincare, cosmetics and fragrances across the price spectrum, reinforcing its aspiration to become the first truly national beauty specialty retail leader in Brazil.  Moreover, the platform also plans to invest in omnichannel capabilities, digital infrastructure, and loyalty initiatives to deliver a more seamless and integrated shopping experience across physical and online channels.

With greater scale and geographic coverage, the company will provide suppliers with a more consistent and robust route to market, supporting stronger collaboration, enhanced product launches, and broader distribution. The combined platform also sees meaningful opportunities for disciplined expansion through new store openings and selective acquisitions over time.

Celso Moraes, Co-founder of Mundo, will serve as Chief Executive Officer of the combined company. Ivo Barbosa, Founder of Bel, and Marina Moraes, Co-founder of Mundo, will join the Board of Directors and remain actively involved in the business, ensuring continuity of leadership and culture.

"We are excited to bring Bel and Mundo together to build the first truly national 'beauty destination' in Brazil," said Ramiro Lauzan, a Managing Partner in L Catterton's Latin American Fund. "Ivo, Celso, and Marina have built exceptional businesses in their respective regions. By combining their strengths and leveraging our global beauty expertise, we believe the merged company is well positioned to become the partner of choice for both consumers and suppliers across the country."

Celso Moraes said, "This combination marks an important new chapter for our teams, our customers, and suppliers. Together, we will broaden our reach, strengthen our assortment, and accelerate growth while remaining committed to service and value."

Ivo Barbosa added, "Bel has always focused on offering variety, quality, and accessibility to our customers. By joining forces with Mundo, we are creating a stronger and more scalable platform that allows us to continue investing in our people, our stores, and our digital capabilities."

L Catterton has significant experience investing in the global beauty and personal care sector, with more than 30 current and past investments including KIKO Milano, Oddity (parent of IL MAKIAGE), The Honest Company, Elemis, Maria Nila, TULA, Merit, Nutrafol, Intercos, and others.

The transaction results in the full sale of the stake held by Vinci Compass's NEIII Fund in Mundo do Cabeleireiro.

L Catterton was advised by Mattos Filho Advogados; Bel was advised by IGC Partners and VPBG Advogados; and Mundo was advised by Ártica Investimentos and Coelho & Dalle Advogados

About Bel Cosméticos

Headquartered in Salvador (BA), Bel Cosméticos is one of the leading multi-brand specialty retailers in Brazil, recognized for its strong value proposition and consistent in-store. Founded more than 30 years ago by Ivo Barbosa, the company has built a solid regional brand, a highly loyal customer base, and long-standing supplier relationships. Bel Cosméticos operates a network of over 70 stores across shopping malls and street locations, with a presence in 16 states, covering key beauty categories – including hair care, skincare, makeup, and fragrances – across a range of price points.

About Mundo do Cabeleireiro

Founded in Recife (PE) over 30 years ago, Mundo do Cabeleireiro is one of Brazil's leading multi-brand retailers specializing in beauty and personal care products. With a portfolio comprising more than 400 national and international brands and approximately 15 thousand SKUs, the company stands out for its broad assortment, close customer relationships, and an accessible, specialized shopping experience. The company operates a network of 65 stores across four Brazilian states, with a strong presence in Pernambuco and São Paulo.

About L Catterton

L Catterton is a market-leading consumer-focused investment firm managing approximately $40 billion of equity capital across three multi-product platforms: private equity, credit, and real estate. The firm invests across the capital structure in well-positioned consumer businesses, with initial equity investments ranging from $5 million to $5 billion. Leveraging deep category insight, operational excellence, and a broad network of strategic relationships, L Catterton's team of more than 200 investment and operating professionals across 18 offices partners with management teams to drive differentiated value creation. Founded in 1989, the firm has made over 300 investments in some of the world's most iconic consumer brands. For more information, please visit www.lcatterton.com.

CONTACTS

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SOURCE L Catterton