Scandinavian Cosmetics Group
Scandinavian Cosmetics Group is a leading Nordic brand management company within high-end cosmetics, representing more than 80 brands in Sweden, Norway, Denmark, and Finland. The group's offering to brand owners as well as retail partners, covers all aspects of the value chain - from brand building and marketing services to category management and distribution.

During Accent Equity's ownership, SCG rapidly developed into operating as one pan-Nordic brand management group resulting in improved operational efficiency

Brand management & distribution, cosmetics
Type of investment:
Investment theme:
Nordic expansion, operational enhancement
At the time of investment, Scandinavian Cosmetics Group was a constellation of brand management companies in the Nordics within cosmetics, with operations mainly in Sweden and Norway, as well as a relatively small presence in Denmark, where each country was operated independently.

In 2019 Accent Equity started to evaluate the potential acquisition of Scandinavian Cosmetics Group based on the investment thesis to create one pan-Nordic company and thereby realize synergies both in terms of revenues (by expanding brand owner contracts from country to Nordic basis) as well as increased operational efficiency. Accent Equity's ambition was also to accelerating growth through add-on acquisitions related to geographical expansion and/or new products and services.
Key initiatives and results during Accent Equity's ownership
  • Creation of one pan-Nordic group through establishment of new group functions and pan-Nordic organisational set up
  • Strengthening the pan-Nordic footprint with add-on acquisition in Denmark
  • Significant investments in centralized and automated warehouse, implementation of new common IT infrastructure (incl. new ERP system)
  • Strengthening of management team with HR, IT, Logistics and strategic business development
  • Optimization of brand portfolio with increased focus on value-add contracts boosting organic growth and profitability
Scandinavian Cosmetics Group has developed rapidly during Accent Equity's ownership. Accent Equity and the board have been good support for the management team in transitioning the company into a Nordic group and have shown a strong commitment to the company through significant and crucial infrastructure investments to accelerate further growth
Joakim Johnsson, Group CEO of Scandinavian Cosmetics Group
Exit rationale and process

Having developed rapidly during Accent Equity's ownership, a bilateral process was initiated with Storskogen, a Swedish listed SME compounder, in the end of 2021. With similar businesses already in their portfolio combined with their indefinite holding perspective, Storskogen represented a great new owner for Scandinavian Cosmetics' continued development. The acquisition was finalized in May 2022.