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Partners Group nears €2bn deal for beauty group Aroma-Zone

Reported by Ft
Aug 5, 2026· 2 min read
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Key Takeaways
  • • Partners Group is nearing a €2 billion acquisition of Aroma-Zone, a French beauty and wellness company specializing in face serums and food supplements, marking a significant entry into the consumer health and beauty sector.
  • • French asset manager Eurazeo is divesting its stake in Aroma-Zone as part of the transaction, indicating a strategic portfolio repositioning by the existing investor.
  • • The deal underscores Partners Group's continued expansion into consumer-focused alternative investments and the growing appeal of the direct-to-consumer beauty and nutritional supplements market to large institutional investors.
Summary
Partners Group, the Swiss-based global alternative asset manager, is in advanced negotiations to acquire Aroma-Zone, a French beauty and wellness company, in a transaction valued at approximately €2 billion. The deal represents a significant strategic move by Partners Group into the consumer health and personal care sector, which has demonstrated resilience and growth potential despite broader economic uncertainties.

Eurazeo, the French asset management firm that currently holds a stake in Aroma-Zone, is set to divest its position through this transaction. This exit signals Eurazeo's strategic decision to redeploy capital from the beauty and supplements business, potentially indicating a shift in the investor's portfolio allocation priorities or a favorable valuation environment for the asset class.

Aroma-Zone operates in the fast-growing direct-to-consumer beauty and nutritional supplements market, offering products including face serums and food supplements. The company's focus on these high-margin consumer categories aligns with broader institutional investor interest in lifestyle and wellness brands, sectors that have experienced sustained demand from health-conscious consumers.

The transaction, while not yet finalized, demonstrates Partners Group's confidence in the sector and its capacity to deploy capital at scale in consumer-oriented investments. The €2 billion valuation reflects the market's valuation of beauty and wellness assets during the current investment cycle and underscores the continued appetite among alternative asset managers for well-established consumer brands with direct customer relationships.

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Sources

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AlphaMaven summarised this story from the reporting below. Each link opens the original article.

Ft Partners Group nears €2bn deal for beauty group Aroma-Zone