Pai Partners to acquire British skin care brand Elemis from L'Occitane
Elemis, a British skin care brand founded in 1989, has net sales above $300 million, with about half from the U.S., according to WWD.
Pai Partners is acquiring Elemis from L'Occitane Group, according to a statement released Wednesday. Financial terms were not disclosed, and the deal is expected to close in the first quarter of 2027.
Elemis was founded in 1989 and has nearly doubled net sales under L'Occitane's seven-year ownership, reaching more than $300 million in full-year 2026. L'Occitane bought the brand in January 2019 for $900 million. The U.S. is its fastest-growing market, generating about 50 percent of net sales.
Pai partners Gaëlle d'Engremont and Colm O'Sullivan said they see opportunities to accelerate U.S. growth and expand Elemis's digital business while preserving its British identity. Pai previously acquired a majority stake in Beautynova.
Deal facts
- Target
- Elemis
- Business
- British premium skin care brand with cleansers, serums, moisturizers and treatments, led by its Pro-Collagen line
- Buyer
- Pai Partners
- Sponsor
- PAI Partners
- Seller
- L'Occitane Group
- Deal type
- Platform
- Sector
- Consumer, Skin care
- Advisers
- Morgan Stanley financial adviser to L'Occitane Group
- CFI France financial adviser to L'Occitane Group
- Skadden legal counsel to L'Occitane Group
- EY-Parthenon vendor due diligence to L'Occitane Group
- Perella Weinberg Partners financial adviser to PAI Partners
- Raymond James financial adviser to PAI Partners
- A&O Shearman legal counsel to PAI Partners
- PwC due diligence to PAI Partners
- Status
- Announced
- Announced
- Wednesday, November 4, 2026
Sources
- WWDNov 4, 2026
- Boursier.comNov 4, 2026
- FinyearNov 4, 2026
- The Business of FashionNov 4, 2026
Written by Buyout Desk from the sources above. Spotted an error? Email corrections@buyoutdesk.com.