The L’Occitane Group has sold Grown Alchemist to the former CEO of L’Occitane International SA, Andre Hoffman, who has acquired a controlling majority stake.
Grown Alchemist CEO Anna Teal has been named as a minority shareholder. The transaction price has been disclosed as €28 million.
L’Occitane acquired the Australian natural beauty brand in 2022, and it has grown its spa business in the UK and Ireland with properties including Lifehouse Spa, Montcalm East and Bellevue Spa at the Mottenotte Hotel.
Investment and growth
“The L’Occitane Group has been an incredible partner and supporter of the business since its acquisition of a majority control in 2022, enabling us to establish a strong foundation for growth, a stellar team, investment in product enhancements and new market entries,” said Teal.