Cosmetics manufacturer Intercos SpA is working on at least one acquisition in the US to expand its skin and hair care business in the world’s largest beauty market.

The Italian company, a supplier to brands including Estée Lauder Cos. and Dolce & Gabbana, is targeting revenue in the $100 million to $200 million range, its chief executive officer, Renato Semerari, said in an interview. He has identified one buyout candidate and said others are on his radar, though he declined to offer details.

“We are proactively trying to buy a company in the skin and hair care sector in the US,” Semerari said. “There is a gap in our industrial footprint in that segment.”

The contract manufacturer has two makeup plants in the US, but it lacks the capacity in hair or skin care to win over the largest b

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