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Published
Nov 12, 2022
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Eurazeo sells majority stake in Nest New York

Published
Nov 12, 2022

Eurazeo, a leading global investment firm with nearly €32.5 billion in diversified assets, including more than €23.4 billion in third-party assets, has announced the sale of its majority stake in Nest New York, a leading lifestyle fragrance brand in the U.S. 


Nest fragrances


The sale is being made to a group of investors led by North Castle Partners, a consumer-focused private equity firm, with Eurazeo and Laura Slatkin, founder of Nest, retaining a minority stake.
 
The deal values Nest at approximately $200 million and provides Eurazeo with a gross multiple of 2.7 times its initial investment. The transaction is expected to close at the end of November. 

"Thanks to Eurazeo's support, Nest's management team has strengthened its product innovation capabilities, developed brand awareness and significantly accelerated its digital development," the Eurazeo team said in a statement.

This support has enabled Nest to triple its overall sales, as well as direct sales to consumers, which have increased tenfold.
 
Nest is now the leading luxury lifestyle fragrance brand in the United States and one of the top ten fine fragrance brands for women at Sephora in the United States. Regularly praised for its innovation capabilities, Nest has won two Allure Best of Beauty 2022 awards and was named Best New Beauty Brand in the UK by The Fragrance Foundation.

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