L’Occitane Group has taken a majority stake in Grown Alchemist, an Australian natural skin care brand. The terms of the deal were not disclosed.
The brand, which was founded by Jeremy and Keston Muijs in 2008, sells anti-aging skin and body care products made from natural ingredients and sold in minimal packaging. L’Occitane said that the acquisition would allow the company to connect with Grown Alchemist’s international customer base, as well expand the brand’s presence in new international markets.
L’Occitane has been ramping up its acquisition activity. In November 2021, it acquired a Sol de Janeiro, an American beauty brand known for its body products, and in January 2019, it acquired British skin care brand Elemis for $900 million. The company’s American division also filed for bankruptcy in January 2021, which led to the closure of 23 L’Occitane stores in the restructuring process.
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