Private equity firm PAI Partners said Wednesday it will acquire British skincare brand Elemis, aiming to accelerate the company’s expansion in the U.S. and strengthen its online business.

Paris-based PAI is purchasing Elemis from beauty and wellness products maker L’Occitane Group. The companies expect the transaction to close in the first quarter of 2027, subject to conditions including regulatory approvals.

The financial terms were not disclosed, and the parties did not identify the authorities whose approval is required. Elemis’ product lineup includes cleansers, moisturizers and specialized skincare treatments.

PAI Buys Elemis to Push U.S. and Online Expansion

PAI said it plans to work alongside Elemis’ management team to support the brand’s next phase of growth, reinforce its position in the U.K. and move faster into the U.S. market.

The U.S. already accounts for about 50% of Elemis’ net sales, according to a joint announcement from PAI and L’Occitane. The brand also has a substantial digital footprint: nearly half of its sales come online through its direct-to-consumer platform and digital partners.

“We see significant opportunities to accelerate growth in the U.S. and expand the brand’s digital business, while preserving its distinctive British identity,” PAI partners Gaëlle D’Engremont and Colm O’Sullivan said in a statement.

The acquisition places Elemis at the intersection of two powerful growth channels — American demand and digital commerce — while PAI says it intends to retain the brand’s British character.

L’Occitane Calls Sale a Portfolio Decision

Elemis was L’Occitane’s first major acquisition, according to Reinold Geiger, the group’s chairman and CEO. Geiger said the sale “reflects a disciplined portfolio decision.”

The skincare and spa-treatment brand agreed to be acquired by L’Occitane International SA in 2019, in a transaction advised by Kirkland & Ellis LLP and Skadden Arps Slate Meagher & Flom LLP.