British luxury skincare brand Elemis bought by L'Occitane
British luxury skincare company Elemis is being acquired by upscale natural cosmetics specialist L’Occitane International for $900 million.
L’Occitane, which already has a portfolio of premium brands, has entered into a definitive agreement to acquire the UK company with the $900 million set to be paid in cash.
Elemis is currently owned by Steiner Leisure, a portfolio company of L Catterton, the largest and most global consumer-focused private equity firm.
Since being founded in 1990, it has made a major impact globally in prestige skincare and claims to be the number one independent British skincare brand.
Its products have strong cross-generational consumer appeal. They’re widely used by the Generation X consumers who latched onto them in the brand’s early years, as well as by those in the baby boomer generation and among the millennial demographic who have discovered them more recently.
The brand is available in a number of different channels including, digital, retail distribution, QVC, professional spa and maritime.
L’Occitane chairman and CEO Reinold Geiger said: "We are pleased to welcome the Elemis business, brand and people to the 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 utilising our expertise in the category to expand the brand's footprint around the world.”
Meanwhile, Elemis co-founder and CEO Sean Harrington said that 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.”
L’Occitane’s current brand portfolio includes L’Occitane en Provence, Melvita, Erborian, L’Occitane au Brésil and LimeLife by Alcone.
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