Eurazeo Completes Majority Investment in NEST Fragrances
November 30 2017 - 1:50PM
Business Wire
New Partnership with Founder Laura Slatkin
is Debut Investment for Eurazeo Brands
Eurazeo, a leading global listed investment company based in
Paris and New York with ~$8 billion in assets under management, is
pleased to announce a majority investment in NEST Fragrances in
partnership with Founder and Executive Chairman Laura Slatkin. This
marks the debut investment for Eurazeo Brands, the firm’s fifth
investment division launched in May 2017 to invest in consumer and
retail brands with global growth potential.
NEST Fragrances was founded in 2008 by Slatkin, a successful
fragrance entrepreneur, and is now regarded as a leader within both
the growing premium home fragrance and fine fragrance categories.
Based in New York, the company offers a collection of over 30 home
and fine fragrances sold in luxury department stores, leading
specialty retailers and upscale boutiques, as well as on QVC and
nestfragrances.com. NEST has experienced strong sales growth over
the last five years and is poised for expansion in both the beauty
and home categories. Slatkin will continue in her role as Founder
and Executive Chairman and Nancy McKay will continue to be Chief
Executive Officer of NEST Fragrances.
“We are delighted to partner with Laura and Nancy to accelerate
NEST’s growth across product categories, channels and geographies,”
said Jill Granoff, CEO of Eurazeo Brands. “The company’s
successful track record to date and global growth prospects make
NEST Fragrances the ideal first investment for Eurazeo Brands. NEST
has developed a very strong brand that resonates with a broad
consumer base driven by its compelling fragrances, distinctive
packaging and accessible luxury positioning.”
Eurazeo Brands aims to invest a total of $800 million in high
potential U.S. and European consumer companies with differentiated
brands across a wide range of verticals including beauty, fashion,
home, wellness, leisure and food. The goal is to partner with
strong management teams and drive value creation by leveraging
Eurazeo’s brand building and operating expertise, as well as its
global network with offices in New York, Paris, Shanghai and Sao
Paulo.
“Eurazeo Brands is the optimal partner for the growth of our
business,” said Nancy McKay, CEO of NEST Fragrances. “We are
very proud of our momentum thus far, and our evolution to a true
lifestyle brand with strong self-purchase and gifting components.
With Eurazeo’s retail and brand building expertise and extensive
international reach, we are well equipped to scale and expand our
core business built on superior quality and luxury
experiences.”
The firm’s majority investment, along with a minority investment
from Slatkin, will be used to diversify product offerings, build
consumer awareness and expand across retail and digital channels to
meet the demands of an existing loyal customer base and increase
access to global consumers.
“The chemistry and shared vision with Eurazeo was undeniable,”
added Slatkin. “Our new partnership brings together seasoned
experts, many with over 25 years of experience in developing global
luxury brands. I have tremendous respect for Jill Granoff and
Virginie Morgon, Eurazeo’s Deputy CEO, and we are excited to tap
into their expertise for our next chapter of growth.”
The company was acquired from Tengram Capital Partners and the
deal closed on November 29. Eurazeo Brands invested approximately
$70 million for a substantial majority investment in the
company.
About NEST
NEST Fragrances is a leading designer, manufacturer and marketer
of luxury fragrances for the bath, body and home. Founded in 2008
by fragrance authority Laura Slatkin, today NEST Fragrances
produces more than 20 home fragrance collections consisting of
luxury scented candles in several sizes, reed diffusers, liquid
soap and hand lotion. In 2012, the company launched the NEST Fine
Fragrances Collection, which today consists of eight fragrances
available in eau de parfum sprays and roller balls and luxury body
cream. NEST Fragrances products are sold primarily in North America
through a growing wholesale customer network of luxury specialty
department stores, beauty product stores, boutique stores and spas,
and the company’s online flagship store NESTFragrances.com.
About Eurazeo
With a diversified portfolio of approximately $8 billion in
assets under management, of which $1 billion from third parties,
Eurazeo is a leading global investment company with offices in
Paris, Luxembourg, New York, Shanghai and Sao Paulo. Its purpose
and mission is to identify, accelerate and enhance the
transformation potential of the companies in which it invests. The
firm covers a broad spectrum of private equity strategies through
its five business divisions – Eurazeo Capital, Eurazeo Croissance,
Eurazeo PME, Eurazeo Patrimoine and Eurazeo Brands. Its solid
institutional and family shareholder base, robust financial
structure, and flexible investment horizon enable Eurazeo to
support its companies over the long term. As a global long-term
shareholder, the firm offers deep sector expertise and a gateway to
global markets, and enables the transformational growth of its
companies.
Eurazeo is listed on Euronext Paris.
ISIN: FR0000121121 - Bloomberg: RF FP - Reuters: EURA.PA
For more information, please visit the
Group’s website: www.eurazeo.com
Follow-us on Twitter, Linkedin, and
YouTube
View source
version on businesswire.com: http://www.businesswire.com/news/home/20171130005985/en/
For EurazeoJulia Sahin, 212-738-6131Julia.Sahin@edelman.com
Regions Financial (NYSE:RF)
Historical Stock Chart
From Aug 2024 to Sep 2024
Regions Financial (NYSE:RF)
Historical Stock Chart
From Sep 2023 to Sep 2024