Advent International has acquired French fragrance houses Parfums de Marly and Initio Parfums Privés.
The US private equity investment fund has secured a majority shareholding in Sprecher Berrier Group of Companies, the parent company of the niche perfume lines.
Advent International said it plans to strengthen the omnichannel strategy of both brands and accelerate their global growth.
Parfums de Marly and Initio Parfums Privés together reported sales of US$366m in 2022.
The terms of the deal have not been disclosed.
Julien Sprecher, founder of Sprecher Berrier Group of Companies, will remain Executive Chair and Creative Director.
He also remains a large minority shareholder.
“Under Julien Sprecher’s visionary guidance, the group has established itself as a leader in niche luxury fragrance," said Ranjan Sen, Managing Partner at Advent International.
“And we see a considerable opportunity to accelerate its growth and penetration in key global markets.”
Sprecher said the move is a “fantastic opportunity” for the group due to Advent's "forward-thinking approach".
“Especially with its desire to support the growth ambitions of the business while protecting the DNA of the brands," he added.
“And maintaining continuity with the existing team and its existing partnerships with suppliers and distributors.”
Advent International has invested in more than 405 private equity investments, including hair care brand Olaplex and Orveon – the owner of bareMinerals, Buxom and Laura Mercier.
As of 31 December 2022, Advent International had €86bn in assets under management.
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