Charlotte Tilbury, the British iconic luxury make-up and skincare brand launched in 2013, has announced that it has joined Puig, the family-owned, fashion and fragrance company based in Barcelona.

Puig will acquire a majority stake in Charlotte Tilbury alongside its founder who will roll over a significant minority stake. Charlotte will continue as Chairman, President and Chief Creative Officer of the company and Demetra Pinsent will remain as CEO. BDT Capital Partners, a merchant bank that provides family- and founder-led businesses with long-term capital, will invest alongside Puig and hold a minority stake. BDT also acted as financial advisor to Puig.

The acquisition of a majority stake in Charlotte Tilbury will add an established and rapidly-growing makeup and skincare brand to Puig existing portfolio of fashion, fragrance and luxury beauty brands.

Charlotte Tilbury said: "I’ve always dared to dream and create magic through beauty. I’m proud to be joining forces with Puig in a strategic partnership that will help us achieve our limitless ambitions. We’ve reached a pivotal point in our growth since launching seven years ago, and we’re looking forward to unlocking new opportunities with Puig, which is the perfect partner as we build an iconic brand to last."