L'Occitane Group acquires Sol de Janeiro

L'Occitane Group has acquired a majority stake in Brazilian-inspired beauty brand Sol de Janeiro.

The acquisition follows the group’s strategy of building a leading portfolio of premium beauty brands.

Described by L'Occitane, Sol de Janeiro is a strategic fit for the group in terms of brand recognition and identity, product quality, management capability, profitability and cash generation prospects.

L'Occitane Group will acquire an 83% indirect interest in Sol de Janeiro. Upon closing, Sol de Janeiro will become a majority-owned subsidiary of the group.

André Hoffmann, Vice-Chairman and CEO of L'Occitane, said: "We are delighted to be further expanding our brand portfolio and accelerating our transformation into a multi-brand and geographically balanced group.

"With a compelling brand story and an experienced and entrepreneurial management team, Sol de Janeiro reflects our values and premium beauty image."

Founded in the US in 2015, Sol de Janeiro is a results-driven premium bodycare brand with ingredients sustainably sourced from Brazil. The brand sells its bodycare, fragrance and haircare products to consumers through its website and various premium retailers across the globe.

Heela Yang, Co-founder and CEO of Sol de Janeiro, said: "We are thrilled to have found a home with the L'Occitane Group to continue to drive our explosive growth. Furthermore, we are ecstatic to have found a partner who so deeply respects our brand vision and values of inclusivity, joy and self-celebration."