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The L’OCCITANE Group to Acquire ELEMIS for $900 Million

Betty Tűndik

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L’Occitane International S.A. (“L’OCCITANE” or the “Group”; SEHK stock code: 973), the leading manufacturer and retailer of natural cosmetics with a portfolio of premium beauty brands, today announced that it has entered into a definitive agreement to acquire ELEMIS, the number one luxury British skincare brand, for $900 million in cash. ELEMIS is being sold by Steiner Leisure Limited (“Steiner”), a portfolio company of L Catterton, the largest and most global consumer-focused private equity firm.

Founder-led since 1990, ELEMIS is a world leader in prestige skincare and 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 that mirror the consumer journey and harness the power of the most efficacious natural ingredients and latest in scientific innovation. ELEMIS capitalizes on its five strategic distribution channels – digital, retail distribution1, QVC, professional spa and maritime – to drive awareness, trial, conversion and retention across the omni-channel.

Reinold Geiger, Chairman and Chief Executive Officer of L’OCCITANE 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 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.”

“For over 25 years, ELEMIS co-founders Sean Harrington, Noella Gabriel and Oriele Frank have committed their life’s work to building a brand with the power to span across categories, geographies and generations. We at L Catterton are proud to have been partners with the founders on this remarkable journey over the past three years. We look forward to seeing ELEMIS continue to flourish with the global support of the L’OCCITANE Group for years to come,” said Avik Pramanik, Partner of L Catterton.

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

Jefferies and Nomura acted as financial advisors to ELEMIS, and Kirkland & Ellis served as legal advisor.

Hi everyone! Nice to e-meet you! Here are a few things you should know about me.


I am a conscientious, open minded, adaptable to new experiences and ambitious Business Development Manager with a Bachelor's Degree in Economics - Banking, Finance and Accountancy. Through my studies I've also obtained many naturopathic and nutrition degrees as well. Part-time jobs have added marketing, network marketing, event management and store management skills to my experience through my career.


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Acquisitions

Amnet New York and Taazu Announce Merger

Vlad Poptamas

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Photo source: timeout.com
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Amnet New York Inc, the 3rd largest US based travel company servicing the Japanese market, today announced the merger with Taazu Inc, a New York based travel technology platform.

Amnet, founded in 1988 and based in New York with offices across the US, has a leading market share in the US & Japancorridor. Powered by Taazu’s technology platform, the merged entity will meet customer demand for a larger set of services across multiple channels and geographies.

“We are excited about the merger of Amnet and Taazu. This combination will help us scale our services to the global markets. Amnet’s offerings and large customer base along with Taazu’s technology platform is a winning combination”, said Fujio Nakagawa, President and Chief Executive Officer of Amnet.

Giri Devanur, Chief Executive Officer of Taazu, commented, “Amnet has established itself as a prominent player providing the highest quality offerings to business and leisure travelers. This merger will help us build an omni-channel travel platform offering end-to-end travel services and scale our business to $100 million by 2020.”

Nobuyuki Mokkoh, member of Taazu’s Board of Directors, who provided M&A advisory services, commented, “This is a perfect synergistic merger. A combined Amnet and Taazu will be able to quickly scale to become a powerhouse in the global travel industry”. Panamax Capital, LLC provided financial advisory services to Taazu.

 

SOURCE Taazu Inc.

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Acquisitions

insightsoftware Announces Acquisition of BizNet Software

Vlad Poptamas

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insightsoftware, the global leader in enterprise resource planning (ERP) and enterprise performance management (EPM) reporting solutions, today announced the acquisition of BizNet Software, a leading software developer of Excel-based reporting and analytics solutions. Terms of the deal were not disclosed.

insightsoftware is the market leader in financial reporting and enterprise performance management, supporting more than 155,000 enterprise users in 5,500 companies across 130 countries worldwide. The acquisition adds to insightsoftware’s Excel-based reporting expertise and gives BizNet’s customers and channel partners access to a broader portfolio of reporting, visual analytics, and planning and budgeting solutions that connect to a wider range of ERP and EPM systems.

Based in Dallas, BizNet Software was founded to leverage the power of Microsoft Excel to facilitate the creation and sharing of interactive reports in minutes to save time, increase accuracy and enable users to answer many of their own business questions without being an Excel expert or requiring IT support. Selling both directly and through a network of channel partners, the company has more than 2,800 customers ranging from mid-market businesses to large corporations with a particular focus on the financial, distribution, manufacturing, and non-profit industries.

“With BizNet’s capabilities, insightsoftware is expanding our family of market-leading reporting products and fortifying our ability to offer ‘right for me’ customer solutions, regardless of their company size, the ERP/EPM they use, or their reporting environment preference,” said Mike Lipps, CEO of insightsoftware. “The combination creates the ultimate advantage for our customers, as well as our partners and distributors, around the world.”

“BizNet’s growth and success over more than two decades is because we recognized a real customer need in the market – users were wasting too much time collecting data and building reports in Excel instead of spending time analyzing the data to gain insight and drive more informed business decisions,” said George McMann, founder and CEO of BizNet Software. “We share insightsoftware’s vision for financial reporting and enterprise performance management, so this deal opens a whole new world of opportunities for our customers and partners to access complementary reporting and analysis solutions across a wide range of ERP and EPM systems.”

 

SOURCE insightsoftware

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Acquisitions

eToro Signals Tokenized Future With Acquisition of Smart Contract Infrastructure Provider Firmo

Vlad Poptamas

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Global multi-asset investment platform eToro has today announced that it has acquired Firmo, for an undisclosed amount. Firmo enables smart contracts for derivatives to be securely enabled on any major blockchain.

Commenting on the news Yoni Assia, Co-founder and CEO of eToro, said: The acquisition of Firmo will enable eToro to accelerate the growth of our tokenized assets offering. Blockchain and the tokenization of assets will play a major role in the future of finance. We believe that in time all investible assets will be tokenized and that we will see the greatest transfer of wealth ever onto the blockchain.

eToro was founded in 2007 with the vision of opening up the global markets so that everyone can trade and invest in a simple and transparent way. While this core vision remains the same, new technology namely blockchain, means that the eToro business has, and will continue to, evolve.

Yoni Assia continued: While our expansion has been largely organic to date, as the eToro business continues to grow we are on the lookout to acquire businesses which will help us stay at the forefront of fintech innovation. We believe that the market is particularly exciting at the moment.

The Firmo team will act as an internal innovation unit tasked with bringing to life the goal of tokenizing all assets on eToro. This will involve research and development of infrastructure for the representation of assets and the execution of trade processes on blockchain infrastructure.

Dr. Omri Ross, CEO and Founder of Firmo , said: The advent of crypto and the blockchain technology that underpins it has driven an explosion in financial innovation, however, a number of challenges are preventing mass adoption and integration into legacy infrastructure. Our goal is to enable our users to trade any asset globally with instant settlement by tokenizing assets and executing all essential trade processes on the blockchain.

Firmo’s underlying technology provides a platform to securely deploy financial contracts and can work with any blockchain. They have developed a formally verified, domain-specific contract language ‘FirmoLang’ which, with the support of Firmo’s compiler can be translated onto a number of blockchain platforms such as Ethereum, EOS or NEO.

Yoni Assia said: The Firmo team has done ground-breaking work in developing practical applications for blockchain technology which will facilitate friction-less global trading. The adoption of smart contracts on the blockchain increases trust and transparency in financial services. We are incredibly proud and excited that they will be joining the eToro family. We believe that together we have a very bright future and look forward to pursuing our shared goal to become the first truly global service provider allowing people to trade, invest and save.

 

SOURCE eToro

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