The L’OCCITANE Group to Acquire ELEMIS for $900 Million. L’Occitane is making a major step forward in building a leading portfolio of premium beauty brands.
Natural cosmetics group L’Occitane announced that it has entered into a definitive agreement to acquire luxury British skincare brand ELEMIS for $900 million in cash. ELEMIS is being sold by Steiner Leisure Limited, a portfolio company of L Catterton.
Founder-led since 1990, prestige skincare brand Elemis 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.
According to Reinold Geiger, Chairman and Chief Executive Officer of L’OCCITANE, “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 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.”