Grown Alchemist exits L'Occitane portfolio, eyes international growth

Grown Alchemist has a new owner. L'Occitane has divested the Australian beauty brand it acquired in 2022 and sold a majority stake to André Hoffmann, the group's former vice-chairman, former chief executive and current board member. Meanwhile, Grown Alchemist CEO Anna Teal bought out minority shareholders. The total price of this transaction is 28 million euros, and the brand will be headquartered in London, England.

The new owners hope to accelerate the brand's growth through increased business agility and large-scale partnerships and events across lifestyle, music and retail, particularly in key markets such as North America and China.

"Since acquiring a majority controlling stake in 2022, Groupe L’Occitane has been an incredible partner and supporter of the business, allowing us to build a strong foundation for growth, a great team, product enhancement investments and new market entry,” said Teal, CEO of Grown Alchemist.

"That being said, we view this acquisition of Grown Alchemist as an opportunity to accelerate brand growth as we gain additional strategic flexibility and autonomy outside of the listed group. We thank the Group for its openness and support for this transformation of our growth strategy, which is in line with both parties. "

Founded in Australia in 2008, Grown Alchemist is sold in more than 40 countries at retail chains such as Sephora and Credo Beauty, as well as five-star hotels and spas.