Skincare brand Bakel’s founder takes back control as Friulia acquires minority stake

Bakel, the skincare brand founded in 2008 by Dr Raffaella Gregoris in Udine, Italy, has announced a share capital increase enabling Friulia S.p.A. – the finance firm of the Friuli Venezia Giulia regional authority – to acquire a 14% stake in the brand, “consolidating [Bakel’s] equity structure and bolstering its new, ambitious industrial objectives.”

 
The operation marks the final stage in the reorganisation process, begun in 2024, via which Bakel is now back in its founder’s full control. Through the MGB holding company, Gregoris has in fact bought back the Bakel stake held by Culti Milano.
 
“The operation concluded with Friulia marks the completion of a journey that has brought Bakel back to the heart of its original DNA,” said Gregoris, who is also Bakel’s president. “[Bakel is] a company born from scientific innovation, with research and development as its growth driver. Moving beyond the previous corporate structure’s constraints was key for competing in an industry that continues to grow faster than traditional cosmetics. Having Friulia as shareholder consolidates Bakel as an innovative SME whose ownership is entirely Friuli-based, consistent with the vision drawn up 12 years ago,” she added.

In 2024, Bakel’s revenue increased 15.1%, and its EBITDA by 14.4%. Further expansion is forecast for 2025, with revenue projected to rise by 22%, driven by significant growth in pharmacies (up 42%) and the e-tail channel (up 40%). This year, exports are growing 18%, notably in Taiwan, China, the Middle East, and Eastern Europe.