PR93475

BOSTON, Dec. 7, 2021 /PRNewswire=KYODO JBN/--

-- Orveon unites iconic cosmetics brands bareMinerals, BUXOM and Laura Mercier

to pave the future of the industry and change beauty for the better

Advent International ("Advent"), one of the largest and most experienced global

private equity investors, today announced the closing of a definitive agreement

with Shiseido Americas Corporation ("Shiseido Americas"), a subsidiary of

Shiseido Company, Limited ("Shiseido"), under which a newly formed affiliate of

Advent, Orveon, has acquired three of Shiseido Americas' iconic cosmetics

brands, bareMinerals, BUXOM and Laura Mercier. The acquisition was announced on

August 25, 2021 (press release available here (

https://c212.net/c/link/?t=0&l=en&o=3378977-1&h=3039073106&u=https%3A%2F%2Fwww.adventinternational.com%2Fadvent-international-to-acquire-bareminerals-buxom-and-laura-mercier-from-shiseido-americas%2F&a=here

)), and closed on December 6, 2021.

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https://mma.prnewswire.com/media/1702367/Advent_International_Brands_Logo.jpg

The official closing marks the start of a new path forward for the acquired

businesses and their employees to join the ecosystem of the newly created

Orveon company, forming a standalone collective of premium and prestige beauty

brands. Accelerating the growth of these brands will be paramount, homing in on

their quality, innovation and authenticity. Upon closing, employees of

bareMinerals, BUXOM and Laura Mercier, as well as about 350 employees in

corporate support functions, moved from Shiseido to the newly formed parent

company, Orveon.

Pascal Houdayer will serve as Chief Executive Officer of Orveon, or "Social

Architect," as he describes himself, bringing more than 30 years of Beauty /

Cosmetics industry and management experience. Under Pascal Houdayer, Orveon's

mission will be to go more than skin deep and focus on helping people move from

"looking beautiful" to "feeling great." Recognizing the diverse range of

consumers being served in the beauty and wellness market, Orveon is on a quest

for a more inclusive, sustainable and united community in which deliberate

action fosters fair and positive change.

"With Orveon, we are embarking on a journey to bring the world a new type of

beauty company defined by solidarity, stark honesty and benevolent activism,"

said Pascal Houdayer. "We intend to unite these powerhouse brands and move to

an era of innovative evolution, that will break down category barriers and

societal conventions to form a sustainable face care expert. I feel honored to

be a part of a team creating a space in which the industry and consumers can be

advocates for change for the better."

Orveon is creating the future of the face. Visionary founders and owners of

these brands have built a solid foundation of beautiful products and strong

customer support. Orveon aims to bring additional innovation that both embraces

these brands' unique DNA while continuing to push towards skin health and

overall wellness, enabling beauty built on a foundation of health. Further,

Orveon will champion the values of bareMinerals, BUXOM and Laura Mercier and

put the consumer at the center, while making measurable cultural strides toward

a reimagined world of beauty and creating a genuine bond with the consumer they

serve both online and offline. As a result, Orveon will work to establish a

meaningful place for employees, while also fostering relationships with

partners that contribute to the success of the company. Plans for development

of new and innovative products, category and market expansion, and potentially

acquisitions of additional brands aligned with its mission, will further

demonstrate Orveon's commitment to customers everywhere.

As a global private equity firm that believes in the power of consumer brands

and equips them for innovation and growth, Advent recognized the potential in

creating Orveon to lead bareMinerals, BUXOM and Laura Mercier on a path to

continued success. This purchase follows Advent's acquisition of prestige

hair-care brand Olaplex in January 2020. Olaplex went public on Nasdaq in

September 2021 after enhancing its direct-to-consumer capabilities, expanding

internationally and building a long-term, science-based product innovation

pipeline. Advent was also the majority owner of Douglas, Europe's leading

beauty retailer, from 2013 to 2015. During that time, Advent helped the company

enhance its profile, expand its international presence, and transform from a

diversified retail conglomerate to a specialist retailer of selective beauty

products.

"We are thrilled to bring together three leaders in prestige beauty to build

Orveon and are thankful toward Shiseido for being a supportive partner

throughout this transaction," said Tricia Glynn, a Managing Director at Advent.

"With Pascal as CEO, we believe this collective will accelerate the growth of

its individual brands, showcasing its expertise to cater to a complete face

care routine across a diverse set of consumers for a modern world."

Orveon will be headquartered in New York City, with regional headquarters in

London and Tokyo. For more information, please visit www.orveonglobal.com.

Jefferies LLC served as financial advisor, and Weil, Gotshal & Manges LLP acted

as legal counsel to Advent. Perella Weinberg Partners served as financial

advisor, and Morgan, Lewis & Bockius LLP acted as legal counsel to Shiseido

Americas.

About Advent International

Founded in 1984, Advent International is one of the largest and most

experienced global private equity investors. The firm has invested in over 380

companies in 42 countries, and as of June 30, 2021, had $81 billion in assets

under management. With 15 offices in 12 countries, Advent has established a

globally integrated team of over 250 investment professionals across North

America, Europe, Latin America and Asia. The firm focuses on investments in

five core sectors, including business and financial services; healthcare;

industrial; retail, consumer and leisure; and technology. After more than 35

years dedicated to international investing, Advent remains committed to

partnering with management teams to deliver sustained revenue and earnings

growth for its portfolio companies.

For more information, visit:

Website: www.adventinternational.com

LinkedIn: www.linkedin.com/company/advent-international

About Orveon

Established in 2021, Orveon is a collective of iconic cosmetics brands,

bareMinerals, BUXOM and Laura Mercier, paving the way for the future of the

beauty industry. Believing beauty is more than skin deep, Orveon aims to

challenge conventional wisdom with humility and deliberate action – all to

create positive change. Owning the face of beauty, and striving to face forward

together, Orveon is about its employees, as much as the union of these

established entities. Together, the company will push beyond being known simply

as cultural tastemakers and ascend as advocates of advancement. Embarking on a

powerful shift, Orveon is committed to stark honesty, co-creation and making a

sustainable cultural impact today and for years to come.

For more information, visit:

Website: www.orveonglobal.com

LinkedIn: https://www.linkedin.com/company/orveonglobal/

Instagram: https://www.instagram.com/orveonglobal/

Twitter: https://twitter.com/orveonglobal

SOURCE:  Advent International

CONTACT: 5WPR, orveon@5wpr.com