Salt & Stone joins Advent International portfolio in majority stake deal
Ropes & Gray advised Advent, while Sidley represented Salt & Stone in the transaction.
USA – Advent International has finalized a definitive agreement to purchase a controlling interest in Salt & Stone, the upscale skincare and body care company from Los Angeles.
The deal positions the private equity giant to drive the brand’s global reach and sales through both online direct sales and high-end retail outlets.
Completion is slated for April 2026, subject to standard regulatory clearances, though exact financial details remain private.
Launched in 2017 by ex-pro snowboarder Nima Jalali, Salt & Stone hit more than USD 165 million in sales during 2025, with consistent double-digit increases via partners like Sephora, Amazon, and its own website.
Renowned for natural ingredients, unique fragrances, and luxurious textures, the brand moves one deodorant every five seconds and secured a spot on BeautyMatter’s 2025 FUTURE50 list.
Recent moves include European rollout through Sephora and Space NK, plus tie-ups such as a special-edition line with Kendall Jenner’s 818 Tequila.
This move strengthens Advent’s holdings in consumer goods and beauty, building on assets like Olaplex with a fast-rising wellness label boasting solid e-commerce strength.
Jalali and key executives will hold onto shares and stay active in operations for seamless transition.
Existing minority backer Humble Growth plans to step away via this transaction.
Legal teams included Ropes & Grey for Advent and Sidley Austin for Salt & Stone, guiding the acquisition process.
Meanwhile, layte last year, Reckitt Benckiser Group completed the divestiture of its Essential Home business to Advent International, L.P.
This move marks a pivotal strategic shift toward a streamlined focus on its power brands in consumer health and hygiene.
The deal closed on December 31, 2025, following an initial agreement announced on July 18, 2025, for an enterprise value of up to USD 4.8 billion, including up to USD 1.3 billion in contingent and deferred consideration tied to performance milestones and return thresholds.
Reckitt retains a 30% equity stake in Advent’s acquisition vehicle, positioning it for potential long-term upside in value while offloading majority control.
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