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Grown Alchemist changes ownership as it eyes international growth

Sophie Smith
02 April 2024

Two years after joining L'Occitane Group, skincare brand Grown Alchemist is being taken private in a bid to accelerate growth.

Andre Hoffmann, the Vice-Chairman and former Chief Executive of L'Occitane International SA, has acquired a controlling majority stake, while Grown Alchemist CEO, Anna Teal, has been named a minority shareholder.

The transaction price has been disclosed as £23.9 million (€28 million).

The move will see the Australian-born brand focus on large scale partnerships and activations in lifestyle, music, and retail, "driving the consumer experience" to accelerate international growth in key markets, such as North America and China. It will be headquartered in London, UK.

"The L'Occitane Group has been an incredible partner and supporter of the business, enabling us to establish a strong foundation for growth, a stellar team, investment in product enhancements and new market entries," said Teal, who joined the business from Aromatherapy Associates last year.

"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 its support for this transition in line with growth strategies of both parties involved."

Co-founded in 2008 by Jeremy and Keston Muijs, Grown Alchemist has developed a global following with its focus on futuristic anti-ageing technology and botanical skincare formulas.

The brand was acquired by L'Occitane Group in 2022. It came from a common focus from both businesses on sustainable sourcing, respecting natural biodiversity and reducing waste.

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