PAI Partners has agreed to acquire ELEMIS, the British prestige skincare brand, from L'Occitane Group, the two companies said on 4 November 2026. Financial terms were not disclosed.
Why PAI Partners is buying ELEMIS
PAI said it would work with the ELEMIS management team to strengthen the brand's position in the UK, accelerate expansion in the US, pursue selected international markets and grow digital and premium retail channels, while continuing to invest in the Pro-Collagen franchise and product innovation and preserving the brand's spa heritage. L'Occitane described the sale as a disciplined portfolio decision.
“ELEMIS has played a special role in the history of our Group.”
Deal terms and financing
No price was disclosed. Completion is expected in the first quarter of 2027, subject to customary regulatory approvals and closing conditions.
Regulatory approvals and timing
The deal requires customary regulatory approvals.
Market context
ELEMIS was founded in 1989 and was acquired by L'Occitane in 2019 from Steiner Leisure, an L Catterton portfolio company, for up to US$900m. Its net sales exceeded US$300m in fiscal 2026, with the US accounting for about half and online channels for nearly half. PAI already controls Beautynova, an Italian professional haircare group.
