LONDON — L’Occitane Group has acquired a majority stake within the Australian skincare model Grown Alchemist.
Although the phrases of the deal weren’t disclosed, the acquisition worth was in extra of fifty million Australian {dollars}, or $37.4 million at present trade, in accordance to business sources.
The sale was negotiated by the boutique funding financial institution Lempriere Wells, which has been working with Grown Alchemist for the previous 5 years, serving to the model to increase internationally.
Lempriere Wells is led by cofounder and managing director Alice Wells, and makes a speciality of world, mid-market M&A for high-growth client manufacturers, with expertise within the well being and wellness, magnificence, private care and skincare sectors.
Wells stated that, over the previous 5 years, gross sales at Grown Alchemist had a compound annual development price of 30 p.c, and the brand new deal will assist the enterprise increase additional.
She labored on the deal for a yr, all through the COVID-19 pandemic, and stated L’Occitane was initially going to buy a minority stake within the model, however the dialog shortly developed.
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“L’Occitane Group demonstrated a compelling path for the model and founders, and one which no different potential investor may match. The transaction is a once-in-a-lifetime alternative for the founders and expedites what may in any other case be a decade-long journey to a worldwide, scaled enterprise,” Wells stated.
André Hoffmann, vice chairman and chief government officer of L’Occitane, stated he was “thrilled to assist and nurture this groundbreaking, pure cosmeceutical model, which encapsulates the entrepreneurial spirit of our group. With a novel and provoking model story and worldwide fan base, Grown Alchemist is poised for worldwide scalability and fast development.”
L’Occitane Group, which is French and quoted on the Hong Kong Stock Exchange, acquired Elemis in January 2019 for about $900 million, and Sol de Janeiro in November 2021 at a valuation of $450 million.
“We couldn’t be extra excited to embark on the following stage of Grown Alchemist’s journey along with the L’Occitane Group, a accomplice with sturdy brand-building and omnichannel experience that may assist us develop our neighborhood of health-conscious clients globally,” stated the cofounders, brothers Jeremy and Keston Muijs.
The Melbourne-based model affords 100% pure, vegan and cruelty-free topical and ingestible skincare merchandise, in addition to hair care and physique care. It slots nicely into L’Occitane Group’s burgeoning lineup of premium skincare manufacturers within the clear magnificence area.
The group’s general portfolio consists of the flagship model L’Occitane en Provence; L’Occitane au Brésil; France’s Melvita; South Korea’s Erborian; American model LimeLife by Alcone, and the group’s magnificence startup Duolab, which was launched in early 2020.
It sells in additional than 30 nations, and was based in 2008 by the Muijs siblings after they spent quite a lot of years in Miami working a inventive model consultancy known as Hatch.
Focusing on pure skincare, with minimalist, gender-neutral packaging and a signature, three-phase skincare system of “cleanse, detox, activate,” the model later expanded into hair and physique care and ingestibles.
It boasts beauty and dietary analysis services in London, Paris, Switzerland, Spain and Australia and accreditations from the ACO (Australian Certified Organic) and SCA (SAFE Cosmetics Australia) organizations.
Bestsellers embody the Tinted Age-Repair Lip Treatment with tripeptide and violet leaf extract; the Hydra-Restore Cream Cleanser with olive leaf and plantago extract; the Detox Serum Antioxidant+3 Complex, and the Age-Repair Eye Cream, with tetrapeptide and centella.
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