Cimed increases proposal, and Silvio Santos Group will sell 100% of Jequiti for R$450 million

The Silvio Santos Group decided to sell 100% of the shares in Jequiti, a cosmetics company that has been part of the SBT owner’s holding since its creation in 2006, to Cimed. Executives were convinced after meetings in recent days on the subject.

The fact that Cimed agreed to slightly increase the value of the offer, which was previously around R$400 million, helped. The deal should cost R$450 million, something close to Jequiti’s revenue base in recent years, according to the report. F5.

Even with the total sale, Jequiti will still have its brand displayed in SBT breaks as a priority, as will other companies in the Silvio Santos Group, such as Telesena and Hotel Jequitimar, for example. This point is part of the agreement to help maintain interest in the products, which have always had inflated sales due to daily exposure on Silvio Santos’ broadcaster.

Cimed, which earned R$3 billion in 2023, intends to transform Jequiti into a national power, placing the company as the main competitor of Avon, the sales leader in cosmetics and perfumery in Brazil.

The decision to sell occurred because the Silvio Santos Group understood that it would no longer be able to provide Jequiti with the investments it needed. The company wants to maintain its focus on its main asset, SBT, and on other companies that profit more from the location.

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.