Pai Partners has agreed to acquire British premium skin care brand Elemis from L’Occitane Group, which has owned the business since 2019. The financial terms were not disclosed, and the transaction is expected to close in the first quarter of 2027.
Elemis was founded in 1989 and has nearly doubled its net sales during L’Occitane’s seven years of ownership, surpassing $300 million for full-year 2026. L’Occitane bought the brand in January 2019 for $900 million.
L’Occitane Group chairman and chief executive Reinold Geiger described Elemis as the group’s first major acquisition and said the sale reflects a portfolio decision focused on long-term value. He praised the brand’s products and customer loyalty, and said he expects it to continue developing under Pai’s ownership.
Elemis cofounder and CEO Noella Gabriel said the business had grown with L’Occitane’s support and that the company plans to build on that progress with Pai while remaining true to its brand and heritage.
Elemis sells cleansers, serums, moisturizers and specialist skin care treatments. Its Pro-Collagen range is its flagship franchise; the Pro-Collagen Cleansing Balm ranks first among facial cleansers in the U.K., according to the source.
The brand has a global presence, with the U.S. its fastest-growing market, accounting for about half of net sales after several years of double-digit annual growth. Nearly half of Elemis sales are made online through its own direct-to-consumer platform and other partners. The business also sells through beauty retailers, spas and travel retail.
Pai partners Gaëlle d’Engremont and Colm O’Sullivan said they see potential to grow Elemis in the U.S. and expand its digital business while maintaining its British identity. Pai also has beauty-sector experience, having acquired a majority stake in professional hair care platform Beautynova in 2024.
Sources: WWD.