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(Bloomberg) -- Banks including Barclays Plc and UniCredit SpA are lining up €500 million ($538 million) in debt financing to back L Catterton’s purchase of a majority stake in Italian beauty brand Kiko, according to people familiar with the matter. Most Read from BloombergEverything Apple Plans to Show at May 7 ‘Let Loose’ iPad EventBerkshire Cash Hoard Scores Another Record as Earnings GainThe World’s Hunger for Salmon Is Linked to an Ecological DisasterSaudi Arabia Steps Up Arrests Of Those At

Italian beauty brand Kiko Milano has agreed to sell a majority stake of the company to investment firm L Catterton.

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The L Catterton private equity fund backed by LVMH acquired a majority stake in Italian beauty company Kiko Milano, founded by the Percassi family.

/PRNewswire/ -- L Catterton, a leading global consumer-focused investment firm, today announced that it has entered a definitive agreement to acquire a...