04 Nov 2026
L’OCCITANE Group, a leading international manufacturer and retailer of premium and sustainable beauty and wellness products, and PAI Partners (“PAI”), a pre-eminent private equity firm, today announce that PAI has agreed to acquire ELEMIS, the globally recognised British prestige skincare brand, from L’OCCITANE Group. The transaction marks the next phase of ELEMIS’ development after seven successful years as part of the Group.
Founded in 1989, ELEMIS is a British skincare brand inspired by the sea, the land and the power of nature. Its heritage is rooted in discovery, from sourcing exceptional ingredients to pioneering biotechnology. For over 35 years, ELEMIS has been creating award-winning, sensorial skincare, drawing on its expertise in spa and professional treatments to deliver visible and clinically proven results. ELEMIS’ portfolio spans cleansers, serums, moisturisers and specialist skincare treatments. Its Pro-Collagen franchise is at the heart of the brand, with ELEMIS Pro-Collagen Cleansing Balm the #1 Facial Cleanser in the UK.*
During L’OCCITANE Group’s ownership, ELEMIS has nearly doubled net sales to over $300 million in FY2026, while strengthening its brand equity, global commercial partnerships, retail network and sustainability credentials. Today, ELEMIS is a leading British skincare brand, with a significant international presence, notably in the United States, where its fast-growing business now accounts for approximately 50% of net sales following several years of double-digit annual growth. The brand generates nearly half of its sales online, across its own direct-to-consumer platform and leading digital partners. These channels complement its presence in leading beauty retailers, spas and travel retail.
ELEMIS’ distinctive blend of advanced skincare science, luxury and wellness aligns with key trends shaping the global skincare market, valued at approximately $170 billion. The market’s resilience and long-term growth prospects are supported by growing demand for skincare that combines indulgent sensorial experiences with visible results, greater awareness of ingredients and product efficacy, as well as continued premiumisation.
PAI will work closely with the ELEMIS management team to support the brand’s continued growth, reinforcing its leadership in the UK, accelerating expansion in the US and pursuing further growth in selected international markets. Priorities will also include broadening its reach through digital and selected premium retail channels. ELEMIS will continue to invest in its core product range and accelerate product innovation, building on the success of its iconic Pro-Collagen franchise, while preserving its distinctive sensorial identity and spa-led heritage.
Gaëlle d’Engremont and Colm O’Sullivan, Partners at PAI, said: “ELEMIS is a distinctive British skincare brand with exceptional products, a strong commitment to innovation and a loyal global following. Its premium positioning, clinically proven product performance and strong digital engagement set it apart in an attractive and resilient skincare market. We see significant opportunities to accelerate growth in the US and expand the brand’s digital business, while preserving its distinctive British identity. Drawing on PAI’s international experience and consumer-sector expertise, we look forward to partnering with the ELEMIS team to support its next phase of growth and development.”
Reinold Geiger, Chairman and CEO of L’OCCITANE Group, said: “ELEMIS has played a special role in the history of our Group. As our first major acquisition, it marked an important step in our evolution as a true multi-brand group. I am grateful for everything they have contributed and proud of the growth created together. The exceptional quality of ELEMIS’ products and the loyalty they inspire have built a strong business with significant potential. This transaction reflects a disciplined portfolio decision, focused on creating long-term value for the Group. I am confident ELEMIS will continue to thrive under PAI's ownership and wish the team every success.”
Noella Gabriel, CEO and Co-Founder of ELEMIS, said: “Over the past seven years, with the support of L’OCCITANE Group, we have strengthened and grown the ELEMIS business, built a compelling product proposition, and created a truly differentiated customer and retail experience. We look forward to building on this progress, bringing our exceptional skincare products to even more people while staying true to our brand, heritage and values. We are grateful to L’OCCITANE Group for its support and excited to take ELEMIS into its next phase of growth in partnership with PAI.”
Morgan Stanley & Co. International plc acted as lead financial adviser to L’OCCITANE Group, CFI France as joint financial adviser, Skadden, Arps, Slate, Meagher & Flom LLP as transaction counsel, and EY-Parthenon as financial and carve-out vendor due diligence adviser.
Perella Weinberg Partners and Raymond James acted as financial advisers to PAI, A&O Shearman as legal adviser, and PwC as financial, operational and carve-out due diligence adviser.
Closing is expected in the first quarter of 2027, subject to customary regulatory approvals and closing conditions. Upon closing, PAI will become the owner of ELEMIS.
