07.27.23
Reinold Geiger, the chairman and executive director of L'Occitane International, is considering a move to take the French skin care company private, according to people familiar with the matter.
Geiger, who owns more than 70% of L'Occitane, is studying the possibility of buying out minority shareholders of the Hong Kong-listed public group. The company has a market value of $4.2 billion.
It remains to be seen whether Geiger will be able to secure financing for the buyout. However, if he is successful, it would be a major coup for the private equity industry.
A L'Occitane spokesperson declined to comment on the potential deal.
The group had a solid start to FY2024 with net sales of €502.2 million ($546.9 million) in FY2024 Q1, representing growth of 20.2% at reported rates or 24.5% at constant rates. The growth was mainly driven by the performance of Sol de Janeiro and the growth of L’Occitane en Provence with a recovering trend in China.
Geiger, who owns more than 70% of L'Occitane, is studying the possibility of buying out minority shareholders of the Hong Kong-listed public group. The company has a market value of $4.2 billion.
It remains to be seen whether Geiger will be able to secure financing for the buyout. However, if he is successful, it would be a major coup for the private equity industry.
A L'Occitane spokesperson declined to comment on the potential deal.
L’Occitane First Quarter Results
This reported move comes after the group released stellar growth results in the first quarter.The group had a solid start to FY2024 with net sales of €502.2 million ($546.9 million) in FY2024 Q1, representing growth of 20.2% at reported rates or 24.5% at constant rates. The growth was mainly driven by the performance of Sol de Janeiro and the growth of L’Occitane en Provence with a recovering trend in China.