DOSSIER acquired by AMERICAN PACIFIC GROUP (APG)
Context
American Pacific Group (APG) has acquired a majority stake in Dossier from the Paris-based evergreen investment platform Otium. The transaction marks a significant liquidity event for Otium, which incubated the brand in 2019 via its "Otium Studio." The deal structure includes a significant reinvestment from both Otium and the founding CEO, Sergio Tache, who will continue to lead the company. The strategic rationale for the acquisition is to accelerate Dossier’s international expansion, specifically targeting markets in Mexico and the UK (via Boots). APG will also support the development of "Dossier Originals" a line of proprietary scents designed to transition the brand from a "dupe" specialist to a standalone fragrance house. The transaction was advised by Solomon Partners (Financial) and Willkie Farr & Gallagher LLP (Legal).
DOSSIER, which reported an EBITDA margin of in 2025, is valued in this transaction at an EV/EBITDA multiple of , a level to compare with the average currently observed in the Retail & Consumer sector (11.2x).
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Target
Dossier is a disruptive American fragrance brand founded in 2019 that focuses on "democratizing" the luxury perfume market. The company’s business model centers on creating high-quality, cruelty-free fragrances inspired by iconic luxury scents (often referred to as "dupes") but sold at a fraction of the price ($29–$49). By removing traditional luxury markups, celebrity endorsement costs, and expensive packaging, Dossier provides premium scents manufactured in Grasse, France. The brand distributes its catalog of over 150 fragrances through its dedicated e-commerce platform and major US retail partners including Walmart and Target. In 2024, the company reported revenues of approximately $90 million, establishing itself as a leader in the accessible luxury segment.
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REFERENCES
Revenue range: 100M - 200M USD
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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Target: dossier
Acquirer: american pacific group (apg)