Advent International to buy Parfums de Marly and INITIO Parfums Privés

• Parfums de Marly and INITIO Parfums Privés are based in Paris
• Sprecher will remain executive chairman, creative director and as a large minority shareholder in both the companies
• Advent is a global private equity investor

Advent International has agreed to acquire majority shareholding in Parfums de Marly and INITIO Parfums Privés, two French perfumery houses, from its founder Julien Sprecher.

No financial details of the transaction were disclosed.

Parfums de Marly and INITIO Parfums Privés are based in Paris.

Sprecher will remain executive chairman, creative director and as a large minority shareholder in both the companies.

“Under Julien Sprecher’s visionary guidance, the Group has established itself as a leader in niche luxury fragrance, and we see a considerable opportunity to accelerate its growth and penetration in key global markets,” said Ranjan Sen, managing partner, Advent International.

Advent will support the management team’s plan to accelerate international growth and strengthen its omni-channel strategy, according to a release.

Advent’s other investments in the consumer and beauty sector includes Douglas, Dufry, Orveon, and Olaplex.

Advent is a global private equity investor based in Boston, Massachusetts. The firm, as of 31 December 2022, managed €86 billion in assets.