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WA-35004

L Catterton Management / Ex Nihilo GroupWA-35004

View on ACCC

Processing timeline

13

days

Filed

22 Jan 2026

Notification waiver determination published

Decision

4 Feb 2026Notification waiver determination published
Type
Waiver
Outcome
Approved
Stage
Waiver application
Status
Assessment completed

Parties

Acquirer(s)

Saphir Holdings SAS Trade and Companies Registry Number 995 192 986

Target(s) or Vendor(s)

Ex Nihilo Group Trade and Companies Registry Number 981 087 646

Other parties

L Catterton Management Limited N/A

Summary

US private equity firm L Catterton Management, via Saphir Holdings SAS, acquired approximately 45% of the issued share capital of French luxury fragrance house Ex Nihilo Group. This share acquisition involves a global player specialising in high-end perfumes and related products, covering wholesale and retail distribution.

Acquisition details

L Catterton Management Limited, together with its controlled funds and affiliates (LCAT), proposes to acquire ~45% of the issued share capital of Ex Nihilo Group (Ex Nihilo), through LCAT’s controlled entity, Saphir Holdings SAS (Saphir). LCAT is a consumer-focused private equity firm based in the United States with assets under management globally. Ex Nihilo is a luxury fragrance house based in France specialising in the creation, production, and wholesale and retail distribution of high-end perfumes and related products. Ex Nihilo was launched in 2013 and has retailers operating worldwide.

Industry

Broad:Wholesale & DistributionANZSIC 3720:Pharmaceutical and Toiletry Goods WholesalingANZSIC 4271:Pharmaceutical, Cosmetic and Toiletry Goods Retailing

Decisions and key events

4 Feb 2026Notification waiver determination publishedAttachmentPDF151.8 KB

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