Advent International Acquires Niche Fragrance Brands Parfums de Marly and Initio Parfums Privés
- Chaileedo Press
- Jun 24, 2023
- 2 min read
Advent International, the Boston-based private equity firm, has acquired a majority stake in the Sprecher Berrier Group of Companies, which owns the niche fragrance brands Parfums de Marly and Initio Parfums Privés.
Advent International, a Boston-based private equity firm, has announced a partnership with Julien Sprecher, the founder of the Sprecher Berrier Group of Companies (the Group) that owns Parfums de Marly and INITIO Parfums Privés. The agreement involves Advent's investment in the company to support the worldwide expansion of the brands.
As part of the partnership agreement, Advent International will acquire a controlling stake in the Group from its founder, Julien Sprecher. Sprecher will retain his position as Executive Chairman and Creative Director of the company and will continue to hold a minority share in the business. The financial details of the transaction have not been disclosed.
Parfums de Marly was founded in 2009 by Julien Sprecher as a way to share his love for fragrance creation and the grandeur of the 18th century. In 2015, he launched INITIO Parfums Privés to revive the prestige of perfume and harness the emotive and practical potential of scent through unique and distinctive fragrances.
Parfums de Marly and Initio have experienced significant growth in recent years, generating a combined retail sales figure of $366 million in the previous year.
Ranjan Sen, Managing Partner, Advent International, said: “We are delighted to have acquired a majority shareholding in Parfums de Marly and INITIO Parfums Privés – two iconic and distinctive brands with creative, exciting fragrances at their heart. Under Julien Sprecher’s visionary guidance, the Group has established itself as a leader in niche luxury fragrance, and we see a considerable opportunity to accelerate its growth and penetration in key global markets.”
Advent International has made significant investments in the beauty industry, including selective German perfumeries Douglas, and the creation of Orveon in 2021, which brings together cosmetics brands Laura Mercier, Buxom, and BareMinerals that were acquired from the Shiseido group. The US-based global leading PE firm also invested in Dufry, Orveon, and Olaplex.
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