L’Occitane’s owner set to complete $7 billion buyout - Indoors Beauty

L’Occitane’s owner set to complete $7 billion buyout

L’Occitane’s owner set to complete  billion buyout

Reinold Geiger, who controls 70% of the wonder big L’Occitane, is contemplating a buyout bid for the shares he doesn’t already personal after de-listing the corporate from the Hong Kong Stock Exchange earlier this month.

The 76-year-old billionaire has a majority shareholding by funding group Groupe L’Occitane and is reportedly shut to making a proposal to take the agency personal as early as Monday in a deal that would worth it at about £5.5 billion ($7 billion) together with debt, in accordance to Bloomberg News.

It was first reported that the billionaire owner was contemplating taking the corporate personal in August 2023. The owner stated he was contemplating potential buyout offers that will worth the group at at least $26 HK a share.

Reinold Geiger

The firm was first listed in 2010 with the hope of rising the enterprise within the Far East and was stated to be one of many first Western firms to promote its main shares within the Asian monetary hub on the time. Trading of L’Occitane was suspended in Hong Kong on April 9 after 14 years.

L’Occitane was based by Olivier Baussan in 1976 and now, almost 50 years later, it trades from roughly 2,774 websites in 90 nations. The firm, which owns L’Occitane en Provence, Melvita and Erborian, boasts over 8,500 workers.

It has strengthened its portfolio over current years by buying Elemis in a $900 million deal in 2019 and taking majority stakes in Sol de Janeiro in 2021 and Grown Alchemist in 2022.

L'Occitane x Sol de Janeiro

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