In a significant development poised to reshape the landscape of the beauty industry, Blackstone is reportedly on the brink of finalizing an agreement to acquire L’Occitane Group, transitioning the renowned natural beauty brand into private ownership. The anticipation surrounding this potential deal has prompted the suspension of trading for L’Occitane on Tuesday, with stock prices closing at HK$29.50.
Citing sources familiar with the matter, a report reveals that Blackstone is set to extend debt financing to Reinold Geiger, the current owner of L’Occitane Group. Geiger is purportedly considering an offer of HK$26 per share as part of the acquisition agreement.
Despite reaching out for comment, both Blackstone and L’Occitane declined to provide official statements to Bloomberg. The news agency suggests that this strategic move signals Geiger’s initiation of a succession plan for the company, hinting at a potential shift in the firm’s leadership and direction in the near future.
