BRITAX CHILDCARE acquired by NORDIC CAPITAL

Eurazeo and its partners invested �410M to acquire a majority stake in Aroma-Zone. The founding family remains significantly involved. Aroma-Zone, a French pioneer in aromatherapy, beauty, natural wellness, and DIY, is built on a digital model of direct-to-consumer sales. Founded in 1999 as an informational website about essential oils, Aroma-Zone is now one of the leading digital commercial platforms.

Permira agreed to acquire a majority stake in Golden Goose from The Carlyle Group, prevailing over rival bidder Advent International after a year-long negotiation process. This transaction represents a classic "Secondary Buyout," where a new private equity owner takes the baton to drive the next phase of growth. Under Carlyle's ownership (since 2017), Golden Goose had already doubled its revenue. Permira's strategic plan focuses on accelerating the brand's global expansion, particularly in the US and Asian markets, and shifting the business model further towards Direct-to-Consumer channels (both physical retail and e-commerce) to capture higher margins and control the brand experience.

3i Group agreed to invest approximately 125 million to acquire a majority stake in MPM alongside the existing management team. The transaction is built on a thesis of international expansion: 3i aims to use its global network and brand building expertise to accelerate MPM's growth in North America, a key strategic priority. The partnership also focuses on supporting product innovation and sustainability initiatives (such as recyclable packaging).

L Catterton acquired a majority stake in JOTT to transform the family-run SME into a global brand. The Gourdikian family retained a significant minority stake. At the time of the deal, the company was valued based on an EBITDA of ~EUR25M and a turnover of ~EUR70M. The strategy focused on international expansion (Asia/Europe) and e-commerce acceleration.

Capital Croissance, a French growth equity firm, entered the capital of Onatera through a growth equity transaction structured as a capital reorganization and recapitalization. The deal involves an equity injection alongside a reshuffling of existing shareholders, with Capital Croissance taking the place of exiting shareholder Entrepreneur Venture, which had entered the company in 2015. The operation is designed to support Onatera’s next phase of expansion, including business model evolution, geographic reach, and potential external growth opportunities. The funds are intended to finance initiatives such as the deployment of physical retail locations, international development, and further optimization of the digital and logistics infrastructure. From a strategic standpoint, the transaction provides Onatera with both capital and advisory support from an investor club composed of entrepreneurs and family offices, reinforcing governance and access to networks.

The transaction between Filorga and Colgate-Palmolive is a major strategic operation, which enables Colgate-Palmolive to strengthen its position in the personal care market. This acquisition allows Colgate-Palmolive to complete its range of personal care products, by integrating the expertise and products of Filorga. The transaction is also an opportunity for Colgate-Palmolive to strengthen its presence in the European market, where Filorga is already well established. The sale of Filorga to Colgate-Palmolive is the result of a sale process led by Goldman Sachs and BNP Paribas, which has attracted the attention of several cosmetics giants. The transaction is expected to be finalized by the end of the third quarter of 2019.

The Kooples has been acquired by the Swiss family group Maus Freres, which also owns Lacoste, Gant, and Aigle, as part of its development strategy focused on accessible luxury premium brands. The brand was previously owned by the Elicha family (founder and majority shareholder) and the LBO France fund, which held a 20% stake.

L'OCCITANE announced the acquisition of ELEMIS, a UK-based luxury skincare brand aiming to strengthen its portfolio of luxury beauty brands and expand its presence in the luxury cosmetics market. This acquisition is the largest since the listing of L'Occitane on the Hong Kong Stock Exchange in 2010. ELEMIS will become a wholly-owned subsidiary, with a growth strategy focused on innovation and quality. The french group expects this acquisition to increase its presence in the luxury cosmetics market, particularly in Asia-Pacific, where the group has a strong presence. The acquisition of ELEMIS will also enable L'OCCITANE to develop its omnichannel distribution strategy and strengthen its position in the skincare market. The acquisition is expected to be completed in the first quarter of 2019, with ELEMIS' management team remaining in place to lead the brand's growth and development.

The deal involves the sale of Eurazeo's 10% stake in Desigual to Thomas Meyer, the company's founder and controlling shareholder. This transaction is the result of a strategic decision by Eurazeo to exit its investment in Desigual, which was made in 2014. During its four-year investment period, Eurazeo actively supported Desigual's transformation, including the development of a new brand image, the expansion of its digital distribution channel, and the optimization of its retail network. The transaction marks the final conclusion of Eurazeo’s investment cycle in the asset. While the exit multiple of 0.5x capital invested reflects the headwinds faced by the retail brand during its transformation phase, the divestment allows Eurazeo to fully reallocate its capital and strategic focus toward higher-yielding investment verticals

PAI Partners has reached an agreement to acquire a majority stake in Asmodee from Eurazeo, following a highly competitive auction process involving major private equity players and strategic investors. The transaction marks the successful conclusion of Eurazeo’s five-year holding period, during which the target underwent a massive transformation through more than 20 build-up acquisitions. Under the new ownership structure, the existing management team, led by CEO Stephane Carville, is expected to reinvest significantly, retaining approximately 30% of the capital. The strategic rationale for PAI Partners is to replicate the company's historical growth trajectory by further accelerating its international expansion, particularly in the United States, and deepening its penetration in the digital gaming and content licensing segments. The acquisition is supported by a robust financing package featuring a leverage level of approximately 6.0x EBITDA, highlighting the resilience and strong cash-flow generation of the board game sector. This move positions Asmodee as a central platform for future consolidation in the global tabletop gaming market.