HONG KONG: Luxury cosmetics firm L’Occitane International SA agreed to buy beauty and skincare brand Elemis for about US$900mil, its biggest deal on record as the maker of organic lotions looks to expand in the United States and United Kingdom.
The Hong Kong-listed L’Occitane agreed to buy the privately-held Elemis from Steiner Leisure Ltd, according to a statement from the companies Sunday. Steiner is a portfolio company of private equity firm L Catterton which focuses on consumer sector investments.
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