Australian beauty brand Grown Alchemist has confirmed that it is moving into privately held ownership and is no longer part of the L’Occitane Group as it looks to accelerate growth and international expansion.

In a statement, Grown Alchemist said André Hoffman, L’Occitane Group’s former vice chairman and former chief executive officer, who remains a board member, has acquired a controlling majority stake from the French beauty group. Anna Teal, chief executive officer at Grown Alchemist is now a minority shareholder. The transaction was priced at 28 million euros.

Teal said: "The L’Occitane Group has been an incredible partner and supporter of the business since its acquisition of a majority control in 2022, enabling us to establish a strong foundation for growth, a stellar team, investment in product enhancements and new market entries.

"That being said, we see this acquisition of Grown Alchemist as an opportunity to accelerate brand growth, as we gain more strategic flexibility and autonomy outside of a listed group. We are appreciative to the Group for their open mindedness and support for this transition in line with growth strategies of both parties involved."

Grown Alchemist parts from the L’Occitane Group

The move will mean increased business agility, allowing it to focus on large-scale partnerships and activations in lifestyle, music, and retail as it looks to drive the consumer experience and accelerate international growth in key markets, such as North America and China.

The Australian-born brand added that it will be headquartered in London.

Founded in Australia in 2008, Grown Alchemist offers skincare, bodycare and haircare, utilising advanced plant and biotech ingredients that work in harmony with the skin’s own biology for better absorption and more powerful results. It also offers spa treatments and services that optimise skin function, including IV Infusion Therapy.

Grown Alchemist is sold in more than 40 countries and is available in retailers, including Sephora, Credo Beauty and five-star hotels and spas.