L’Occitane Group has acquired a majority stake in Sol de Janeiro. L’Occitane will acquire an 83% indirect interest in Sol de Janeiro, based on a valuation of $450 million. 

Upon closing, Sol de Janeiro will become a majority-owned subsidiary of the Group. The transaction is expected to close by the end of the year.

Sol de Janeiro views L’Occitane as uniquely positioned to accelerate its already explosive growth trajectory, while strengthening the brand’s commitment to sustainability. 

The acquisition will allow the Sol de Janeiro brand vision and team to remain intact, while leveraging L’Occitane's international presence.

Heela Yang, Chief Executive Officer and Co-Founder of Sol de Janeiro, comments, “It’s been my dream to reach all corners of the globe...I have always admired L’Occitane, a beautiful lifestyle brand anchored in their deep commitment to sustainability, and we are thrilled to have found a home..."

Yang will remain in her role as CEO, rolling over a significant amount of her equity to continue to drive growth. She adds, “My commitment to growing Sol de Janeiro and leading the team I worked hard to build remains unwavering, and I am very excited about continuing the entrepreneurial culture of the company with L’Occitane as a strategic partner.”

More About Sol de Janeiro's Success

Born from an authentic Brazilian philosophy of celebration and joy, Sol de Janeiro is a fast growing skin care brand and premium body care brand with beloved global fans from Gen Z to Millennials. The products feature highly efficacious ingredients sustainably sourced from Brazil.

Sol de Janeiro sells body care, fragrance, and hair care products both directly to consumers through its website and through various premium retailers across the globe.

André Hoffmann, CEO, L'Occitane, Comments

André Hoffmann, vice-chairman & chief executive officer, L’Occitane, says, “Sol de Janeiro aligns squarely with our vision to accelerate growth and create value through strategic partnerships."

Hoffman continues, "With a compelling brand story and an experienced and entrepreneurial management team, Sol de Janeiro reflects our values and premium beauty image. It has enormous potential for growth in new and existing markets and channels around the world.”

Sol de Janeiro had been backed by Prelude Growth Partners, a leading consumer-oriented growth private equity fund since mid 2019.

Financo Raymond James served as exclusive financial advisor to Sol de Janeiro, and Cooley served as legal advisor.