01.04.24
L'Occitane Group has acquired Dr. Vranjes Firenze, a luxury home fragrance brand, from Bluegem Capital Partners. A purchase price was not disclosed. In 2023, Dr. Vranjes Firenze's sales topped 42 million euros ($45.78 million at current exchange rates). The brand's EBITDA margin tops 30%. The deal is expected to close in Q1 2024.
Since acquiring the brand in 2017, Bluegem expanded distribution into international and omnichannel markets. Digital sales now account for more than 25% of sales. The brand’s entry into new geographic markets, particularly in the Middle East and Asia, along with the introduction of product lines such as personal fragrances and scented candles, propelled expansion, too.
“Bluegem supported our strategic vision and enabled meaningful growth while honouring the rich heritage of Dr. Vranjes," said Paolo Vranjes, founder and chairman of Dr. Vranjes Firenze. "With the support of Bluegem we have reached significant milestones, and it is with great pride that I hand over the legacy of Dr. Vranjes to the L’Occitane Group, a group known for its distinguished heritage and expansive global reach."
With 2022 sales of $2.1 billion, L'Occitane is a leading international manufacturer and retailer of premium and sustainable beauty and wellness products. The Group operates in 90 countries worldwide and has 3,000 retail outlets, including over 1,300 of its own stores. L'Occitane is ranked No. 17 in Happi's The International Top 30.
Bluegem is a European private equity firm investing in consumer staple businesses across the value chain underpinned by non-discretionary demand and supported by megatrend tailwinds. Bluegem focuses on six distinct consumer segments: beauty & personal care, home care, baby care, pet care, food & beverage and health & wellbeing.
Of Heart & Health: The Home Fragrance Market
Since acquiring the brand in 2017, Bluegem expanded distribution into international and omnichannel markets. Digital sales now account for more than 25% of sales. The brand’s entry into new geographic markets, particularly in the Middle East and Asia, along with the introduction of product lines such as personal fragrances and scented candles, propelled expansion, too.
“Bluegem supported our strategic vision and enabled meaningful growth while honouring the rich heritage of Dr. Vranjes," said Paolo Vranjes, founder and chairman of Dr. Vranjes Firenze. "With the support of Bluegem we have reached significant milestones, and it is with great pride that I hand over the legacy of Dr. Vranjes to the L’Occitane Group, a group known for its distinguished heritage and expansive global reach."
With 2022 sales of $2.1 billion, L'Occitane is a leading international manufacturer and retailer of premium and sustainable beauty and wellness products. The Group operates in 90 countries worldwide and has 3,000 retail outlets, including over 1,300 of its own stores. L'Occitane is ranked No. 17 in Happi's The International Top 30.
Bluegem is a European private equity firm investing in consumer staple businesses across the value chain underpinned by non-discretionary demand and supported by megatrend tailwinds. Bluegem focuses on six distinct consumer segments: beauty & personal care, home care, baby care, pet care, food & beverage and health & wellbeing.
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