BCLP advises on sale of majority stake in Byredo to Puig

International law firm BCLP has advised long-standing client Manzanita US Investments, along with Ben Gorham (founder) and another minority shareholder, on the sale of a majority stake in Byredo AB to Spanish conglomerate Puig.

The luxury fragrance and lifestyle brand Byredo, founded in Sweden by Ben Gorham, has earned a cult-like following for its gender-neutral fragrances, leather products, home furnishings and cosmetics. Byredo sells its products through a global retail and distribution network. Byredo has been steadily expanding from its fragrance beginnings in 2006, introducing leather goods in 2018 and a cosmetics range in 2020.

Manzanita is a London-based family investment fund with a focus on premium and luxury beauty and fragrance brands. Its portfolio companies include Diptyque, Malin+Goetz, Space NK and Susanne Kaufmann as well as stakes in fast-growing disruptor companies like Glossier, What Matters, Unbound and A-Frame. This is BCLP’s fifth transaction for Manzanita Capital in the last two years.

The transaction drew on BCLP’s global resources. The core BCLP London team was led by Partner Carol Osborne (sector leader for Retail & Consumer Products and global practice group leader of Technology, Commercial & Government Affairs) assisted by Senior Associate Lara Rush (Corporate Transactions) and Associate Andreas Demetriou (Corporate Transactions). The BCLP Paris team was led by Partner Christian Sauer (Corporate Transactions) assisted by Associate Paul Ast (Corporate Transactions). The BCLP Hamburg team was led by Partner Tonio Sadoni (Corporate Transactions) assisted by Associate Aslan Sönmez (Corporate Transactions). Competition advice was provided by Partner David Anderson and Associate Thomas Wright (both White Collar, Antitrust & International Trade) in Brussels. Corporate, real estate and employment specialists in Hong Kong SAR and the United States also supported the deal.