PAI Partners agrees to acquire British skincare brand Elemis from L’Occitane
PAI Partners has agreed to acquire British premium skincare brand Elemis from L'Occitane Group, marking the private equity firm's latest investment in the consumer and beauty sector, according to a company announcement. Financial terms were not disclosed.
PAI Partners has reached an agreement to acquire skincare company Elemis from L’Occitane Group, according to a recent announcement. The private equity firm's acquisition marks a new investment in the consumer and beauty industry. Specific financial details of the transaction were not disclosed. In 2019, L’Occitane took ownership of Elemis, which has since experienced a nearly doubling of its annual net sales, reaching over $300 million in FY2026.
Approximately half of Elemis' revenue now comes from the US market, following years of robust growth, with online sales contributing to nearly half of the business. Should PAI take control, the skincare brand is set to concentrate on expanding its presence in the US, strengthening its position in the UK, and exploring new international markets.
The investment plan also emphasizes digital distribution, selective premium retail growth, and product innovation centered on Elemis' renowned Pro-Collagen skincare line. This acquisition provides PAI with access to the global premium skincare market, valued at around $170 billion, as consumer interest in higher-value beauty and wellness products continues to rise.
The deal is anticipated to be finalized in the first quarter of 2027, pending regulatory approvals and customary closing conditions.
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