Targeting its position in prestige skincare, L’Occitane International, a leading manufacturer and retailer of natural cosmetics with a portfolio of premium beauty brands, kicked off the year with an announcement that it had entered into a definitive agreement to acquire Elemis, the No. 1 luxury independent British skincare brand, for $900 million in cash.

Elemis is being sold by Steiner Leisure Limited, a portfolio company of LCatterton, the largest and most global consumer-focused private equity firm.

Founder-led since 1990, Elemis’s products draw strong cross-generational consumer appeal, with a proven ability to attract Millennials while maintaining loyal Gen X and Baby Boomer consumers.