L’Occitane Sells Grown Alchemist Stake to Former CEO

The L’Occitane Group has announced that Grown Alchemist will no longer form part of its brand portfolio and will move into privately held ownership, effective immediately.

Existing board member Andre Hoffmann, who is also the former vice-chairman and former chief executive officer of L’Occitane International S.A., has acquired a controlling majority stake, while current CEO, Anna Teal, has been named a minority shareholder. The transaction price has been disclosed as €28 million.

This move will see Grown Alchemist focus on large scale partnerships and activations across different cultures, driving the consumer experience to accelerate international growth in North America and China.

“The L’Occitane Group has been an incredible partner and supporter of the business since its acquisition of a majority control in 2022, enabling us to establish a strong foundation for growth, a stellar team, investment in product enhancements and new market entries,” explained Teal. “That being said, we see this acquisition of Grown Alchemist as an opportunity to accelerate brand growth, as we gain more strategic flexibility and autonomy outside of a listed group. We are appreciative to the Group for their open mindedness and support for this transition in line with growth strategies of both parties involved.”

Founded in Australia in 2008, Grown Alchemist is a brand for all skin types impacted by modern living. The brand’s high-performance formulas support skin health thanks to advanced plant and bio-tech ingredients which work in harmony with the skin biology for better absorption and results.  In addition to the core skincare collection, Grown Alchemist offers spa treatments and services that include cryotherapy, lymphatic drainage, and IV Infusion Therapy.

This acquisition follows a number of brand buyouts announced this year: Manzanita Capital acquired a stake in D.S. & Durga, Puig acquired a majority stake in Dr. Barbara Sturm, and Bridgepoint acquired RoC Skincare.