L'Occitane Group has acquired luxury home fragrance brand Dr. Vranjes Firenze from Bluegem Capital Partners for an undisclosed amount, furthering its goal to build a geographically balanced portfolio of strong premium beauty brands.
WHO: Dr. Vranjes Firenze began as the Antica Officina del Farmacista, founded in Florence in 1983 by Paolo Vranjes and his wife Anna Maria. Beginning with cosmetics and spa treatments, Vranjes launched the Rosso Nobile home fragrance in 1999, later rebranding the company as Dr. Vranjes Firenze in 2008. The company is most well-known for its reed diffusers in octagonal bottles paying homage to the Brunelleschi Dome. In-house development and R&D, as well as a "Made In Florence" experience, remain vital pillars of the brand. Today, it is said to own 13% of the high-end diffuser market.
Bluegem Capital Partners is a London-based pan-European mid-market private equity fund specialized in consumer staple businesses. Established in 2007, Bluegem focuses on six distinct consumer segments including beauty, personal and home care, food and beverage, and health and well-being. Its portfolio companies include global, well-known brands in the reference market such as Dr. Vranjes, Light & Living, Mamas & Papas, QMS, Milk_shake, and Iconic London. The firm acquired Panzeri Diffusion through its subsidiary Pool Service to create Italy’s third-largest professional haircare group in 2020.
Founded in 1976, the L'Occitane Group is a leading manufacturer and retailer of premium products with a focus on wellness and natural beauty listed on the Hong Kong Stock Exchange. The company currently operates in 90 countries and 3,000 retail outlets worldwide with sales that reached $2.1 billion in 2022. Its portfolio includes Melvita, Erborian, Elemis, Sol de Janeiro, and Grown Alchemist.
WHY: This marks another step in L'Occitane Group’s strategy to build a geographically balanced portfolio of strong premium beauty and fragrance brands building on recent acquisitions of Grown Alchemist and Sol de Janeiro.
IN THEIR OWN WORDS: “Bluegem supported our strategic vision and enabled meaningful growth while honoring the rich heritage of Dr. Vranjes. With the support of Bluegem we have reached significant milestones, and it is with great pride that I hand over the legacy of Dr. Vranjes to the L’Occitane Group, a group known for its distinguished heritage and expansive global reach," says Paolo Vranjes, founder and Chairman of Dr. Vranjes Firenze.
Constantin Rojahn, Bluegem Investment Director, comments, “The dedication and expertise of the management team led by CEO Giuseppe Colotto have been fundamental to the brand’s ongoing progress, and will remain crucial as it continues to evolve. We would like to extend our appreciation to board director Massimo Saracchi for his significant contributions to the brand’s development.”
Reinold Geiger, Chairman of the L’Occitane Group, said, "We are thrilled to continue to grow our global brand portfolio with the addition of Dr. Vranjes Firenze, which is complementary to our existing collection of premium beauty and fragrance brands, each with a strong identity and a genuine desire to make a difference."
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