The deal values Nest at $200 million.
“I think it’s amazing that someone that invested in the brand before wants to invest in the brand again,” said Jill Granoff, managing partner of Eurazeo and chief executive officer of its Brands division, in an interview. “I think that speaks to the strength of not only the category but the brand itself, the performance it’s achieved and the leadership team.”
“We have healthy margins and consumer love is just phenomenal so we thought that now was the time to bring in a partner and as you know we’re staying on board so that we can build upon the strong foundation,” she added. “We’ve been involved in the brand for five years successfully and watching its success in the subsequent four or five years since it was initially sold just obviously gave me great confidence in what I always knew — it’s a great brand with a loyal consumer base and a lot of growth,” he explained.
Under the new investment the main focus will be international and category expansion, with Nest launching in the U.K. last year through Cult Beauty and recently making its debut in Selfridges.
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