Manzanita Capital has purchased a majority stake in luxury fragrance house D.S. & Durga.
The private equity firm’s investment will be used to expand the US perfumer’s retail footprint, product offering and team.
The terms of the deal have not been disclosed.
D.S. & Durga was co-founded by David and Kavi Moltz in Brooklyn, New York, in 2009.
The fragrance company is known for its niche scents and playful branding.
It has three stores in New York and one in Los Angeles.
David and Kavi will remain in their leadership positions to steer the brand through its next phase of growth.
"Manzanita is pretty good at retail and stuff,” said David.
“Their wide knowledge of building perfume businesses… will be good for helping to spread our unique way of thinking about perfumes."
Private equity firm Monogram Capital, which invested in D.S. & Durga in 2018, will stay on as a minority stakeholder.
Manzanita Capital is no stranger to the world of fragrance, having previously invested in perfume brand Byredo, which it sold to Puig in 2022.
The company also owns luxury fragrance companies Diptyque and Malin+Goetz.
Image credit: Nick Simonite.