L Catterton to acquire minority stake in fragrance house EX NIHILO

As Eurazeo withdraws its investment, L Catterton will purchase a sizeable minority share in the Paris-based haute fragrance brand EX NIHILO.

The founders and management of EX NIHILO are anticipated to reinvest with L Catterton, while Eurazeo will sell its whole investment in the company. With the help of hero debuts like Fleur Narcotique and Blue Talisman, as well as individualised services, EX NIHILO, which was founded in 2013, has established a global reputation in the luxury fragrance market. The deal is anticipated to close in the first quarter of 2026, pending regulatory approval.

Given that the category continues to excel in global prestige beauty, the deal demonstrates continuing private equity interest in high-growth luxury scent. While Eurazeo's departure highlights the sector's strong valuation momentum in premium scent, EX NIHILO's partnership with L Catterton signifies a push into its next phase of worldwide development.

Source: Global Cosmetics Media Limited