The Silvio Santos Group owns SBT, Telesena, Jequiti, among other companies. The Silvio Santos Group has decided to sell 100% of the shares of 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 has agreed to slightly increase the offer value, which was previously around R$400 million, helped.
The deal should be closed for R$450 million, something close to Jequiti’s revenue base in recent years, as reported.
Even with the total sale, Jequiti will still have its brand displayed in SBT’s intervals as a priority, just like other companies of 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’ channel.
Cimed, which made a profit of R$3 billion in 2023, intends to turn Jequiti into a national powerhouse, positioning the company as Avon’s main competitor, the leading cosmetics and perfumery sales company in Brazil.
The decision to sell occurred because the Silvio Santos Group understood that they could no longer provide Jequiti with the investments it needed.
The company wants to focus on its main asset, SBT, and on other companies that are more profitable locally.
Jequiti Cosmetics is present throughout the Brazilian territory through 260,000 consultants. The company is known for launching perfumes by artists such as Celso Portiolli, Carlinhos Maia, and Larissa Manoela.