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THE WHAT? Grown Alchemist has introduced that it’s going to now not be a part of the L’Occitane Group and can as an alternative be privately owned. Andre Hoffmann, former L’Occitane Vice Chairman, CEO and current Board Member, has acquired a majority stake within the model.
THE DETAILS Grown Alchemist CEO, Anna Teal, has been named as a minority shareholder. The acquisition worth was disclosed as €28 million and the model might be headquartered in London, UK.
THE WHY? Teal feedback, “The L’Occitane Group has been an unimaginable associate and supporter of the enterprise since its acquisition of a majority management in 2022, enabling us to determine a robust basis for progress, a stellar workforce, funding in product enhancements and new market entries. That being stated, we see this acquisition of Grown Alchemist as a chance to speed up model progress, as we acquire extra strategic flexibility and autonomy exterior of a listed group. We’re appreciative to the Group for his or her open mindedness and help for this transition according to progress methods of each events concerned.”
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