L’Occitane
L’Occitane: Taking a leading global beauty group private to ensure long-term sustainable growth
L’Occitane
Undisclosed
Financing Capital Advisory for Take-Private of L’Occitane International
Lead Financial Adviser
CONSUMER | APRIL 2024
In April 2024, Jefferies acted as Lead Financial Advisor to funds managed by Blackstone Tactical Opportunities (“Blackstone”) and Goldman Sachs Asset Management (“Goldman Sachs”) to provide financing capital to Group L’Occitane’s controlling shareholder to take the company private.
Reinold Geiger and related entities, the controlling shareholder of L’Occitane, launched a tender offer at HK$34.00 to allow the leading beauty company to continue operations while investing in long-term sustainable growth initiatives as a privately held company. The offer was supported by a commitment by Blackstone and Goldman Sachs of €1.551 billion and implied a 50% premium compared to an undisturbed share price.
Jefferies’ France-based Beauty Sector/IB team leveraged its longstanding relationship with L’Occitane and Geiger and its worldwide consumer network and deep knowledge of the sector to provide critical analysis and advice. The deal added to the over 30 transactions Jefferies has completed in the beauty and wellness franchise since 2019, solidifying the firm’s leadership in both the sector and the French market.
Jefferies’ France-based Beauty Sector/IB team leveraged its longstanding relationship with L’Occitane and Geiger and its worldwide consumer network and deep knowledge of the sector to provide critical analysis and advice.
About L’Occitane
L’Occitane is a leading global beauty company with strong, internationally renowned brands (including L’Occitane en Provence, Sol de Janeiro, and ELEMIS) that sell across 3,000 points of sale in over 90 countries.
About Blackstone
Blackstone is one of the world’s largest alternative asset managers, with $1 trillion in AUM. It launched its Tactical Opportunities platform in 2012 to invest across the landscape of private investment opportunities outside of traditional private equity and private credit, and it is now the largest opportunistic investment platform worldwide.
About Goldman Sachs Asset Management
Goldman Sachs Asset Management is a traditional and alternative asset manager with a portfolio of over $2 trillion in AUM. Hybrid Capital is part of the Private Credit division and provides flexible solutions for businesses seeking non-control alternatives to traditional private equity or greater flexibility than traditional debt.
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