Elemis to be acquired by L’Occitane for £700m | Pocketmags.com

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Elemis to be acquired by L’Occitane for £700m

Elemis has entered a deal to be sold to the L’Occitane Group for $900 million (£700m).

The British professional skincare brand is changing hands from current owner Steiner Leisure, a portfolio company of private equity irm L Catterton, which acquired Elemis in 2015, to French company L’Occitane.

Founded in 1990 by chief executive Sean Harrington and fellow directors Noella Gabriel and Oriele Frank, Elemis is known for hero ranges including Pro Collagen and the recently expanded Superfoods line. The brand has ive strategic distribution channels – digital, retail, QVC, professional spa and cruise ships.

L’Occitane chairman and chief executive Reinold Geigersaid said the acquisition marked “a major step forward for L’Occitane in building a leading portfolio of premium beauty brands”. He added: “Elemis is well positioned for continued global growth due to the brand’s broad appeal, awardwinning 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 scientiic innovation, and we look forward to utilising our expertise in the category to expand the brand’s footprint around the world.”

Harrington said, “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.”

L’Occitane International is a manufacturer and retailer of natural and organic beauty products. The Group owns ive brands: L’Occitane en Provence, Melvita, Erborian, L’Occitane au Brésil and LimeLife by Alcone, and has more than 3,000 retail outlets, including more than 1,500 owned stores, across 90 countries.

This article appears in PB February 2019

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PB February 2019
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