On June 22nd, Advent International, a private equity fund based in the United States, announced its acquisition of a majority stake in two niche perfume brands from France, Parfums de Marly and Initio Parfums Privés. The specific financial details of the transaction were not disclosed, but according to WWD reports, industry insiders estimated the acquisition value to exceed $700 million.
Parfums de Marly and Initio Parfums Privés were both founded by Julien Sprecher and are subsidiaries of the Sprecher Berrier Group of Companies (SBGC). SBGC, established in 1981, is a luxury fragrance …
