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08/2026

PARTNERS GROUP takes majority stake in AROMA-ZONE

FRANCE Consumer Products / Personal & Household / Hygiene & Beauty Brands EV 1b - 4b EUR

Context

Partners Group acquires a majority stake in Aroma-Zone, a French natural cosmetics brand, from Eurazeo in a secondary LBO. The transaction, announced in August 2026 and subject to customary regulatory approvals, marks Eurazeo's partial exit after five years of partnership. The strategic logic rests on continuity and acceleration of development. Partners Group, already familiar with the dossier through its participation in the 2021 debt financing, now intervenes in equity with the ambition to support Aroma-Zone's next growth phase. Eurazeo retains a significant minority stake via Eurazeo Capital V, alongside the founding Vausselin family and management, reflecting shared confidence in long-term prospects. This transaction aims to accelerate Aroma-Zone's international deployment (Italy, other European markets), boost product innovation (70 new references launched in the past year), and strengthen the omnichannel platform. The structure includes a TLB (Term Loan B) of approximately 600 million euros and generates around 576 million euros in gross proceeds for Eurazeo. The process, led by Centerview Partners, attracted several major private equity names before Partners Group aligned with the expected valuation.

It is worth noting that the fund Eurazeo took control of Aroma-Zone through an LBO in 2021.

AROMA-ZONE, which reported an EBITDA margin of LOGIN in 2026, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level LOGIN than the average currently observed in the Retail & Consumer sector (11.0x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

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Target

Aroma-Zone is a French natural cosmetics, wellness, and self-care brand, specializing in essential oils and DIY (do it yourself) beauty products. Founded in 1999 by the Vausselin family, initially as an information website dedicated to aromatherapy, the company gradually transformed into an e-commerce platform and physical retail network. Aroma-Zone's model combines sales of raw ingredients, finished products, and DIY recipes, covering skincare, haircare, body care, nutrition, and household categories. The brand has designed its own cosmetics since 2005, manufactured in its Cabrières d'Avignon facility and through approximately fifty partner contractors in France. Its approach is based on price accessibility (products between 10 and 20 euros), formula transparency, and customer education through cosmetics and aromatherapy workshops. Aroma-Zone operates, in 2026, a network of 36 stores in France, Belgium, and the United Kingdom, with strong acceleration in physical deployment over the past five years.

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Historical Financials (EUR)

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Other operations with AROMA-ZONE

List of similar M&A transactions (Date, Acquirer, Target, Country, Sector, Deal Context)
DateAcquirerTargetCountrySectorDeal Context
04/2021EURAZEOAROMA-ZONEFRANCEConsumer Products

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.

REFERENCES

Valuation range: EV 1b - 4b EUR

Revenue range: 250M - 500M EUR

EBITDA range: 50M - 100M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of AROMA-ZONE by PARTNERS GROUP are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Target: aroma-zone

Acquirer: partners group