Grown Alchemist departs L’Occitane Group, moves to private ownership

Biological beauty brand Grown Alchemist will no longer be part of the L’Occitane Group but instead move to privately held ownership. 

Andre Hoffman, former vice-chairman of L’Occitane International S.A. and former chief executive officer of the company, who also is currently an existing board member, has acquired a majority stake in the beauty brand. 

In addition, Grown Alchemist CEO, Anna Teal, has been named a minority shareholder. 

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“The L’Occitane Group has been an incredible partner and supporter of the business since its acquisition of a majority control in 2022, enabling us to establish a strong foundation for growth, a stellar team, investment in product enhancements and new market entries,” said Teal, CEO of Grown Alchemist. “That being said, we see this acquisition of Grown Alchemist as an opportunity to accelerate brand growth, as we gain more strategic flexibility and autonomy outside of a listed group. We are appreciative to the Group for their open mindedness and support for this transition in line with growth strategies of both parties involved.”

Following the transaction, which has been valued at 28 million Euros, Grown Alchemist will focus on large-scale partnerships and activations in lifestyle, music and retail to help drive international growth in key markets. 

Currently, Grown Alchemist creates products designed to help skin function and thrive in modern life by utilizing bio-advanced and clinically proven formulas that work with the skin’s own biology.