Nest has a recent but somewhat familiar majority owner.
Investment company Eurazeo has sold its majority stake in the house scent and fragrance company to an investor group led by private equity firm North Castle Partners, in a transaction that values Nest at about $200 million. Terms of the deal weren't disclosed.
Eurazeo and Nest founder Laura Slatkin will retain minority ownership positions.
North Castle Partners can be familiar to Nest as beauty industry adviser Wealthy Gersten was at Tengram Capital Partners when it was Nest’s essential backer and subsequently sold its majority stake to Eurazeo in 2017 for $70 million. Nest represents North Castle’s second beauty and private care investment within the last two years.
“I believe it’s amazing that somebody that invested...
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