Oct 22 (Reuters) - Private equity firm Advent
International is in early discussions to potentially sell its
Parfums de Marly business as soon as next year at a likely
valuation of more than $2 billion, the Financial Times reported
on Wednesday.
The Boston-based investor is yet to hire bankers or make a
final call on a potential divestment, FT said, citing people
familiar with the matter.
The Paris-headquartered company, which owns the Initio
Parfums Privés brand of fragrances, could draw bids from fellow
buyout investors and fragrance peers, it added.
Reuters could not immediately verify the report. Advent
International and Parfums de Marly did not immediately respond
to Reuters' requests for comments.
The potential exit follows a wave of consolidation in
fragrances, which have outpaced the wider beauty industry.
Earlier this week, Kering agreed to offload its
beauty operations to L'Oreal in a 4 billion euro
($4.66 billion) deal that hands the French cosmetics leader the
Creed fragrance line and 50-year licenses for Gucci, Bottega
Veneta and Balenciaga scents.
Last month, Coty ( COTY ) kicked off a strategic review of
its consumer beauty unit, including brands CoverGirl and Rimmel,
to sharpen its emphasis on premium perfumes.
($1 = 0.8575 euros)