Silvio Santos Group will sell most of Jequiti’s shares to Cimed

The Silvio Santos Group decided to sell the majority of shares in Jequiti Cosméticos, one of its best-known brands. Founded in 2006, the company sells perfumes and makeup at popular prices.

The buyer will be Cimed Farmacêutica, the fourth largest in the sector in Brazil and dedicated to the production of medicines, antibiotics, vitamins, hormones and similar products.

The deal should be announced in the coming weeks, for a value not yet defined. The parties also negotiate the percentage of the sale.

What is known is that it will give the buyer greater decision-making power on the company’s board, something that the Silvio Santos Group wants. Cimed should acquire something around 50% to 70%.

The Silvio Santos Group will continue to participate and will help Jequiti to remain relevant in the media, exposing new products that will be launched. The brand will appear in SBT programs and commercial breaks.

The decision to sell occurred because the Silvio Santos Group understood that it needed a partner to increase investments in a competitive market.

Jequiti Cosméticos is present throughout Brazil through 260 thousand consultants. The company is known for launching perfumes by artists such as Celso Portiolli, Carlinhos Maia and Larissa Manoela. In recent years, however, there has been a drop in the number of sales. The fact also weighed on the business.