Advent International has announced the closing of its agreement with Shiseido Americas, and has formed a new affiliate, Orveon. 

Orveon is the new owner of three of Shiseido Americas's iconic cosmetic brands—bareMinerals, Buxom and Laura Mercier.

Advent International is one of the largest global private equity investors. We first announced the news of this deal in August, and it was finalized yesterday. 

Advent states, "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."

Orveon plans to accelerate the growth of these brands by focusing on their quality, innovation and authenticity.

Upon closing of the deal, 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 experience in the beauty industry.

“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 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 Wants to Create 'the Future of the Face'

Orveon, which can be found at OrveonGlobal.com, says it is "creating the future of the face."

The company states:

"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." 

Orveon says it 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."

The company aims to and create a genuine bond with the consumer, both online and offline.

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.

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.