spot_img

The L’OCCITANE Group to Acquire ELEMIS for $900 Million

 

L’Occitane International S.A. (“L’OCCITANE” or the “Group”; SEHK stock code: 973), the leading manufacturer and retailer of natural cosmetics with a portfolio of premium beauty brands, today announced that it has entered into a definitive agreement to acquire ELEMIS, the number one luxury British skincare brand, for $900 million in cash. ELEMIS is being sold by Steiner Leisure Limited (“Steiner”), a portfolio company of L Catterton, the largest and most global consumer-focused private equity firm.

Founder-led since 1990, ELEMIS is a world leader in prestige skincare and is the number one independent British skincare brand. ELEMIS’ products garner strong cross-generational consumer appeal, with a proven ability to attract Millennials while maintaining loyal Gen X and Baby Boomer consumers. ELEMIS offers four award-winning skincare franchises that mirror the consumer journey and harness the power of the most efficacious natural ingredients and latest in scientific innovation. ELEMIS capitalizes on its five strategic distribution channels – digital, retail distribution1, QVC, professional spa and maritime – to drive awareness, trial, conversion and retention across the omni-channel.

Reinold Geiger, Chairman and Chief Executive Officer of L’OCCITANE said, “We are pleased to welcome the ELEMIS business, brand and people to the L’OCCITANE family. It is a major step forward for L’OCCITANE in building a leading portfolio of premium beauty brands. ELEMIS is well positioned for continued global growth due to the brand’s broad appeal, award-winning product portfolio, robust new product development pipeline and effective consumer-focused digital and brick-and-mortar distribution strategy. We have long admired ELEMIS for their commitment to natural ingredients and scientific innovation, and we look forward to utilizing our expertise in the category to expand the brand’s footprint around the world.”

“We are thrilled to announce this agreement with L’OCCITANE, which will strengthen the continued growth and momentum behind our timeless brand and remarkably transformative products,” said Sean Harrington, Co-Founder and Chief Executive Officer of ELEMIS. “Reinold Geiger has a strong history of developing and supporting brands like ours that are creating products sourced from nature and developed through cutting edge science and technology. With his inspiring and entrepreneurial leadership, I am confident that through this transaction, we can continue to realize our mission of delivering extraordinary products and experiences and grow ELEMIS into one of the leading skincare brands in the world.”

Marc Magliacano, Managing Partner of L Catterton’s Flagship Buyout Fund, said, “Over decades, ELEMIS has built an enduring and truly unique brand with powerful consumer appeal across generations, a relentless focus on innovation and an unwavering commitment to high quality sourced ingredients. Since partnering with Steiner Leisure in 2015, we have worked alongside ELEMIS’ talented management team to invest in its innovation capabilities, expand its product assortment and evolve its go-to-market strategy with the ultimate goal of appealing to a wider consumer audience. This transaction represents a terrific outcome for ELEMIS and L Catterton, and we are confident that ELEMIS will thrive and reach new heights in partnership with L’OCCITANE.”

“For over 25 years, ELEMIS co-founders Sean Harrington, Noella Gabriel and Oriele Frank have committed their life’s work to building a brand with the power to span across categories, geographies and generations. We at L Catterton are proud to have been partners with the founders on this remarkable journey over the past three years. We look forward to seeing ELEMIS continue to flourish with the global support of the L’OCCITANE Group for years to come,” said Avik Pramanik, Partner of L Catterton.

The transaction is expected to close in the first quarter of 2019.

Jefferies and Nomura acted as financial advisors to ELEMIS, and Kirkland & Ellis served as legal advisor.




I want to grow my online platform to create awareness about ethical consumerism, environmentalism, and the plant-based lifestyle. My main mission is to share information that empowers people to make better choices and create a VEG NEW WORLD :)


Your support is vital and is helping me share the collected information with thousands of readers and viewers. I try to deliver exclusive stories and relevant content in a challenging commercial environment. Your contribution helps me to cover the costs that my service requires. Please consider contributing (no matter how small) to keep the information flowing so you can remain informed and have life changing interviews and stories to share.

spot_img

Subscribe

Related articles

Remy Robotics exits stealth mode with launch of third autonomous robotic kitchen

  Pioneer in robot-enabled delivery-only restaurants expands its reach and...

GUUD Modern Muesli Launches Functional Cereal Line

New ‘Fuel’ Products Take Breakfast to the Next Level GUUD,...

Yoga guru offers free guided meditation for World Meditation Day

  Available online for participants across the globe, or in-person...

Fleur & Bee Releases Beginner-Friendly Retinol Moisturizer

Clean skincare brand Fleur & Bee officially debuts its...
spot_img
Betty Tűndikhttps://vegnew.world
Hi everyone! Nice to e-meet you! Here are a few things you should know about me. I am a conscientious, open-minded, adaptable to new experiences, and ambitious Business Development Manager with a Bachelor's Degree in Economics - Banking, Finance, and Accountancy. Through my studies, I've also obtained many naturopathic and nutrition degrees as well. Part-time jobs have added marketing, network marketing, event management, and store management skills to my experience throughout my career. Throughout my career, I have also been a Hotel Manager and owned a Bar/Restaurant & Internet Cafe. My online marketing and social media interactivity experience was gained when I and my husband started a business with an online/organic webshop & healthy lifestyle consultancy. I've improved my English at Cambridge Academy of English - 2003, in Cambridge. I live a conscious lifestyle, and try to protect the ecosystem. Animal lover and capable of helping others without judgment or negative reactions, this is thanked my knowledge in holistic therapies and the naturopathy courses I've followed. I cannot leave for my spiritual growth and the continuous development in alternative and holistic therapies, so I'm learning at Kyron School of New Consciousness, receiving a Bio Energo-therapist diploma. Thanks to all my experiences I've decided to venture into publishing and writing, while also continuing to learn many new things daily. I hope you enjoy reading my hand-picked news and check back for my weekly articles.