Moët Hennessy Louis Vuitton (LVMH) completed the acquisition of Ole Henriksen, a botanical skin care company founded and owned by its namesake.
In the past, LVMH has bought such brands as Benefit, Make Up For Ever and Fresh and expanded them as part of its portfolio.
Ole Henriksen, the namesake of the brand, is a skin care specialist. In 1985, Henricksen created the at-home, luxury, botanical-based skin care line to treat the face and body while helping to achieve overall health and wellness. The brand is currently sold at Sephora, a retailer owned by LVMH, as well as spas in a total of 22 countries.
LVMH will focus on future product development breakthroughs for Ole Henriksen, as well as expanding its international distribution. Specifically, Ole Henriksen will reportedly benefit from working closely with Sephora to accelerate the brand’s worldwide expansion.
Demeter Group, the San Francisco-based investment bank for growth consumer and retail companies, acted as exclusive financial advisor to Ole Henriksen. Henriksen will remain the brand’s creative director, and the company, which will continue to be based in Los Angeles, expects to appoint a new CEO in early 2011. This person will report to David Suliteanu, CEO and president of Sephora Americas. Terms of the transaction were not disclosed.