Eurazeo Sells Minority Stake in EX NIHILO to L Catterton

Eurazeo, a leading European investment group, has announced an exclusive agreement to sell its minority stake in EX NIHILO, a renowned Parisian Haute Perfumery House, to L Catterton, the largest global consumer-focused private equity firm. This transaction, revealed on January 19, 2026, is set to support EX NIHILO’s next phase of development after a fruitful two-year partnership with Eurazeo.

Founded in 2013 by Sylvie Loday, Olivier Royère, and Benoît Verdier, EX NIHILO has established itself as a prominent player in the luxury fragrance market, known for its innovative and high-quality offerings. The brand’s unique approach combines artistic collaborations with personalization services, allowing customers to create bespoke fragrances. Iconic products such as Fleur Narcotique and Blue Talisman have contributed to its rapid growth and cult status.

Under Eurazeo’s stewardship, EX NIHILO has strengthened its brand positioning and expanded its international footprint. The investment firm has supported the company in enhancing its leadership team and focusing on sustainability initiatives, particularly in decarbonization efforts. The sale to L Catterton will see the founders and management reinvest significantly alongside the private equity firm, indicating their commitment to the brand’s future.

The financial terms of the deal have not been disclosed, but it is reported that the transaction is expected to yield a multiple of over 2.5 times Eurazeo’s initial investment within just two years. This outcome underscores Eurazeo’s ability to create value and enhance the quality of its portfolio.

As part of the agreement, the completion of the transaction is subject to customary closing conditions, including regulatory approvals, with an expected closing date in the first quarter of 2026. The partnership with L Catterton is anticipated to provide EX NIHILO with enhanced resources for further market expansion, particularly in North America and Asia-Pacific.

In a joint statement, the co-founders of EX NIHILO expressed their gratitude for Eurazeo’s support, stating, “The last two years alongside Eurazeo have enabled EX NIHILO to structure itself and accelerate its growth, both in France and internationally.” They emphasized their commitment to maintaining the brand’s creative essence while pursuing global leadership in the luxury fragrance sector.

Pierre Meignen, Head of Elevate at Eurazeo, highlighted the successful exit as a testament to the firm’s strategy of supporting ambitious companies. He stated, “This successful exit, only two years after we invested in EX NIHILO, highlights once again the strengths of Eurazeo’s strategy consisting of supporting ambitious and responsible companies.”

Looking ahead, the collaboration with L Catterton is expected to enhance EX NIHILO’s market position and drive innovation in product offerings, including personalized fragrances and collectible lines. The acquisition is poised to strengthen the brand’s competitive edge in the luxury fragrance segment, setting the stage for continued growth and success.