The L'Occitane Group to Acquire ELEMIS

L'Occitane, a leading manufacturer and retailer of natural cosmetics, has announced that it has entered into a definitive agreement to acquire ELEMIS for $900 million in cash

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The ELEMIS Pro Collagen range.

Founder-led since 1990, ELEMIS, is a leading independent British skincare brand. The brand’s products garner strong cross-generational consumer appeal, with a proven ability to attract millennials while maintaining loyal Gen X and Baby Boomer consumers by harnessing the power of efficacious natural ingredients and latest in scientific innovations.

L'Occitane chairman and CEO Reinold Geiger 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 ELEMIS Co-Founder and CEO Sean Harrington. "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 Catterton Flagship Buyout Fund Managing Partner Marc Magliacano said: "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."

The $900 million transaction is expected to close in the first quarter of 2019.

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