Sol de Janeiro Acquisition, Valuation, Funding & Investors

Sol de Janeiro was acquired by L’OCCITANE Group for $542M in November 2021, a 9.0x multiple on $60M of revenue.

Sol de Janeiro acquisition price

$542M

Acquired by L’OCCITANE Group · Nov 2021

Sol de Janeiro revenue at acquisition

$60M

Last twelve months · Nov 2021

Sol de Janeiro revenue multiple at acquisition

9.0x

EV/Revenue · Nov 2021

Cumulative funding Sol de Janeiro raised

$15M

across 1 funding round

Sol de Janeiro Overview

About Sol de Janeiro

Sol de Janeiro is a New York-headquartered beauty brand offering Brazilian Bum Bum Cream, body mists, and hair care infused with cupuaçu butter, açaí oil, and pistachio. Acquired by L'Oréal in 2021, it sells through Sephora, Ulta, and its e-commerce site worldwide. The line features scents like Cheirosa 62, targeting body sculpting and hydration for diverse skin tones.


Founded

2015

HQ

United StatesNew York City, NY

Status

Acquired

Customer focus

B2C

Revenue model

Product sales

Revenue

$60M (Nov 2021)

Valuation

$542M (acquired Nov 2021)

Sol de Janeiro Acquisition

Sol de Janeiro was acquired by L’OCCITANE Group for $542M on 15 November 2021.

The acquisition price implies a 9.0x revenue multiple on $60M of revenue.

Before the acquisition Sol de Janeiro had raised $15M across 1 funding round.

Sol de Janeiro is a US-based premium body care brand founded in 2015, inspired by Brazilian philosophy of self-love and joy, offering skincare, fragrance, and hair care products sold directly online and through premium retailers globally. The brand had grown rapidly, achieving about $60 million in net sales in 2020, up from $39 million in 2019, backed since mid-2019 by Prelude Growth Partners as its sole institutional investor. On November 15, 2021, L’OCCITANE Group announced the acquisition of an 83% indirect stake in Sol de Janeiro for a total valuation of $450 million, with founders Heela Yang and Marc Capra rolling over their 17% stake; the deal closed around December 2021. L’OCCITANE funded the purchase with cash on hand and banking facilities, viewing Sol de Janeiro as a strategic fit due to its brand strength, profitability, digital presence, and growth potential in body care, complementing L’OCCITANE’s portfolio of premium beauty brands like L’Occitane en Provence, Melvita, and Elemis. The acquisition enables Sol de Janeiro to leverage L’OCCITANE’s global reach for market expansion while retaining its independent vision, management, and CEO Heela Yang. L’OCCITANE expects immediate accretion to results and long-term profitable growth, with Sol de Janeiro benefiting from enhanced R&D and sustainability efforts.

Sol de Janeiro acquisition details
AcquirerDateTypePriceEV/Revenue
  • L’OCCITANE Group
15 Nov 2021Strategic M&A$542M9.0x

Sol de Janeiro Funding History

Sol de Janeiro has raised a total of $15M across 1 funding round.

Sol de Janeiro funding rounds

Sol de Janeiro funding rounds
DateStageRaisedDeal Summary
Jun 2019Series A$15MSol de Janeiro is a US beauty brand co-founded in 2015 by CEO Heela Yang, inspired by Brazilian body care culture. The brand gained popularity with its Brazilian Bum Bum Cream, which became Sephora’s best-selling skin care cream shortly after US launch, and sells directly to consumers via its website and through premium retailers globally. On June 24, 2019, Sol de Janeiro received Growth Equity investment from Prelude Growth Partners as its only institutional investor at that time. The investment supported key hires, infrastructure, product development, and marketing efforts. The brand achieved $39 million in net sales in 2019. In a later development, L’Occitane acquired an 83% stake in November 2021 at a $450 million valuation, with Heela Yang retaining the remainder and continuing as CEO. Net sales reached $60 million in 2020.

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Sol de Janeiro Competitors

Sol de Janeiro competitors include listed companies like PZ Cussons, Evolus and The Honest Company, and private ones like Nuxe, Madison Reed and Healthkart.

Public and private companies comparable to Sol de Janeiro
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
NuxeFranceParisPrivate--$550M-
PZ CussonsUnited KingdomUnited KingdomPublicly listed$727M$132M$552M0.8x
EvolusUnited StatesUnited StatesPublicly listed$297M($24M)$528M2.0x
The Honest CompanyUnited StatesUnited StatesPublicly listed$371M($8M)$571M1.4x
Madison ReedUnited StatesUnited StatesPrivate--$586M-
HealthkartIndiaGurgaonPrivate$119M-$500M4.2x

Sol de Janeiro Public Comps

Sol de Janeiro is no longer listed, but its public comps include PZ Cussons, Evolus, The Honest Company, The Beauty Tech Group, Betterware de Mexico, Alkaloid, Helen Of Troy, Sunmax Biotechnology, Tempo Scan Pacific and Perfect Group Corp.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
PZ Cussons$727M$132M0.8x0.8x4.6x6.3x
Evolus$297M($24M)2.2x2.0x(26.5x)(94.3x)
The Honest Company$371M($8M)1.3x1.4x(56.9x)20.0x
The Beauty Tech Group$189M$37M2.4x2.1x12.1x7.7x
Betterware de Mexico$829M$152M1.2x1.1x6.6x5.4x
Alkaloid$391M$62M1.7x-10.7x-
Helen Of Troy$1.8B($728M)0.8x0.8x(1.9x)7.3x
Sunmax Biotechnology$64M$35M10.2x-18.6x-

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Common questions about Sol de Janeiro

When was Sol de Janeiro founded?Sol de Janeiro was founded in 2015.
Where is Sol de Janeiro headquartered?Sol de Janeiro is headquartered in New York City, NY, United States.
Is Sol de Janeiro publicly listed?No, Sol de Janeiro was acquired by L’OCCITANE Group in November 2021.
Who acquired Sol de Janeiro?Sol de Janeiro was acquired by L’OCCITANE Group in November 2021.
How much was Sol de Janeiro acquired for?Sol de Janeiro was acquired for $542M in November 2021, a 9.0x revenue multiple.
How much funding has Sol de Janeiro raised?Sol de Janeiro has raised $15M across 1 funding round.
What was Sol de Janeiro's last funding round?Sol de Janeiro's last funding round was a $15M Series A in June 2019.
Which companies are comparable to Sol de Janeiro?Companies comparable to Sol de Janeiro include Nuxe, PZ Cussons, Evolus, The Honest Company, Madison Reed and Healthkart.

See companies similar to Sol de Janeiro

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