Private equity firm Advent International is in early talks to sell Parfums de Marly, the French fine fragrance brand it acquired in 2023, the Financial Times reported on Wednesday.
A deal could value the business at over $2 billion, sources told the paper. Advent International did not respond to a request for comment. The deal would also include its sister brand, Initio Parfums Privé.
The private equity firm purchased a majority stake in Sprecher Berrier Group, which owns both brands, from founder Julien Sprecher in 2023. At the time, industry sources estimated to WWD that Parfums de Marly was valued at $700 million.
In a release at the time of acquisition, Advent’s managing director Ranjan Sen hailed both brands as leaders in niche luxury fragrance with headroom to grow in new markets.
Advent International’s portfolio spans consumer products as well as investments in the healthcare and technology sector. In 2022, it spun off the prestige cosmetics brands Buxom, Laura Mercier and Bareminerals it had purchased from Shiseido Americas into a new company, Orveon.
Advent also purchased a controlling stake in Olaplex in 2019, and owned 79.6 percent voting power in the company at the time of its 2021 IPO.
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Advent International Acquires Parfums de Marly and Initio Parfums Privés
The private equity firm has taken a majority stake in Sprecher Berrier Group of Companies.