L'Occitane has sold Grown Alchemist to Andre Hoffmann, former vice chairman and CEO of L'Occitane International S.A., for 28 million euros. L'Occitane had acquired the brand in 2022.
Hoffmann remains a board member of the company.
Grown Alchemist's CEO, Anna Teal, is a minority shareholder in the brand.
Grown Alchemist, based in London, will now "focus on large scale partnerships and activations in lifestyle, music and retail," per an official announcement, particularly in key markets such as China and North America.
"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," said Teal. "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."
!['Mented is a very strong addition to the West Lane platform of beauty and wellness businesses, and we are excited to work with [co-founder] KJ [Miller] and the team to continue providing high quality products to Mented's loyal customer base,' said Michael Wentz, a vice president at West Lane.](https://img.gcimagazine.com/files/base/allured/all/image/2024/04/370162342_682917563865368_4553016856103776370_n.66268d872fb63.png?auto=format%2Ccompress&fit=crop&h=191&q=70&rect=0%2C0%2C1080%2C1080&w=340)
