The cosmetics group L’Occitane, is expanding its brand portfolio with the acquisition from Bluegem Capital Partners of the Italian home fragrance label, Dr. Vranjes Firenze. While the official amount remains undisclosed, industry sources estimate the transaction at €150 million
The company said in a statement that this acquisition contributes to the establishment of a high-end brand portfolio, maintaining a relevant and balanced geographical distribution - L’Occitane owned renowned brands such as L’Occitane en Provence, Sol de Janeiro and Elemis.
Dr. Vranjes Firenze in 2023 achieved a turnover of 43 million euros with EBITDA margins of 30%. Dr. Vranjes Firenze currently commands 13% of the 536 million euro high-end home diffuser market, second only to Dutch beauty brand Rituals.
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