Grown Alchemist completes change of ownership

Beauty brand, Grown Alchemist will no longer form part of the L'OCCITANE Group and will move into privately held ownership.

L'OCCITANE International S.A. former Vice-Chairman and former CEO and existing Board Member, Andre Hoffmann, 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 28 million Euros.

"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, CEO of Grown Alchemist. "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 their open mindedness and support for this transition in line with growth strategies of both parties involved."

The Grown Alchemist product portfolio is dedicated to creating the optimal conditions for skin to function and thrive in modern life, by harnessing bio-advanced, clinically proven formulas which work in harmony with the skin's own biology. The brand also offers spa treatments and services that optimize skin function, including IV Infusion Therapy.

With increased business agility, Grown Alchemist will 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. The brand will be headquartered in London, U.K.