Citic Capital explains makeover of New Zealand’s Trilogy

The Chinese buyout fund’s latest acquisition is the start of an M&A rollup strategy with a focus on bringing niche brands to the increasingly affluent and brand-conscious China market.

Citic Capital explains makeover of  New Zealand’s Trilogy

Citic Capital China Partners completed the acquisition of New Zealand-based Trilogy International this week, building its portfolio of companies along the beauty supply chain, stretching from Fifth Avenue to China.

The Chinese private equity firm is betting on Chinese women’s growing preference for natural beauty and a natural lifestyle, said Hanxi Zhao a senior managing director of Citic Capital. Citic Capital also believes it can help foreign brands navigate the country's booming Rmb169.1...

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