Global investment firm Eurazeo has announced that it is selling its majority stake in Nest New York, a renowned lifestyle fragrance brand in the United States. The sale, valued at approximately $200 million, will be to a group of investors led by consumer-focused private equity firm North Castle Partners. However, Eurazeo and Nest founder, Laura Slatkin, will retain a minority stake in the company. The deal is set to close at the end of November.

Eurazeo has played a crucial role in helping Nest to strengthen its product innovation capabilities and enhance brand awareness. With their support, Nest has witnessed a significant increase in overall sales, tripling its figures, and a remarkable tenfold increase in direct sales to consumers. As a result, Nest has become the top luxury lifestyle fragrance brand in the U.S. and one of the top ten fine fragrance brands for women at Sephora. The brand’s innovation has also received recognition, earning two Allure Best of Beauty 2022 awards and being named the Best New Beauty Brand in the UK by The Fragrance Foundation.

Given Nest’s remarkable success and growth in recent years, it is not surprising that Eurazeo decided to sell its majority stake. With the company’s current value estimated at $200 million, Eurazeo is expected to benefit significantly from its initial investment.

The acquisition of Nest by a group of investors led by North Castle Partners will further enhance the brand’s position in the market and create new opportunities for growth. With their expertise in consumer-focused investments, North Castle Partners is ideally suited to support Nest’s future endeavors and help the brand expand its footprint in the fragrance industry.

For Nest, this sale marks a new chapter in its journey toward continued success and innovation. Eurazeo and Laura Slatkin’s decision to retain a minority stake enables them to remain involved in the brand’s strategic direction while also enjoying the financial gains from the transaction.

The anticipated closing of the sale at the end of November has sparked excitement among industry experts and fragrance enthusiasts. Many eagerly await the future developments and milestones that await Nest New York under its new ownership. Given Nest’s reputation for innovation, quality, and luxury, it is poised to make even greater strides in the fragrance market and solidify its position as an industry leader.

Useful links:
Nest New York Official Website
North Castle Partners Official Website