NEW YORK — Eurazeo entered into exclusive discussions with Partners Group to potentially sell its stake in Aroma-Zone and reinvest in the French natural beauty retailer and brand.

Aroma-Zone has been backed by Eurazeo since 2021, when it invested around 410 million euros, making it the company’s main shareholder. At the time, industry sources estimated that Aroma-Zone made about 100 million euros of sales annually.

Aroma-Zone was launched in 1999 in France by the Vausselin family as an aromatherapy information website. By 2000, it became the first online seller of essential oils. Company offices were set up in Provence in 2005, and that year everything needed for do-it-yourself cosmetics was launched. Cut to 2026, and Aroma-Zone’s remit is holistic.

“Building on the foundations created over the past 27 years, the proposed transaction would support the company’s next phase of development, with a particular focus on innovation and further investment in its omnichannel platform, while continuing to strengthen its French foundation and scale its international footprint,” Eurazeo said in a statement.

The transaction would include Eurazeo Capital IV and its affiliates selling their current stake in Aroma-Zone. Then, Eurazeo Capital IV and its affiliates would reinvest with Partners Group, which would then own a majority stake in the business.

Such a transaction would generate about 576 million euros of gross proceeds to Eurazeo, which had reportedly been considering exit options for Aroma-Zone for months.

Aroma-Zone entered a new growth phase in 2021, while remaining anchored in its founding family’s vision. Under chief executive officer Sabrina Herlory Rouget, Aroma-Zone has sped up the development of its ominichannel model, bolstered its processes and back office, and made robust investments in human resources, digital industrial and supply-chain infrastructure.

In an interview with WWD in January, the CEO said, “We can be one of the top brands in Europe — and one day in the world.”

She described Aroma-Zone as “the natural, safe, efficient, eco-conscious solution to take care of yourself and your loved ones. It’s everything under one roof. We’re coming from a very strong scientific expertise and knowledge of plant ingredients.”

Aroma-Zone categories include beauty, wellness and household products, with approximately 1,600 stock keeping units. Dermocosmetics is the strongest product category.

The portfolio includes skin care, hair care, body care and nutrition. The latter was introduced three years ago and nowadays generates at least 15 percent of company sales. Everything is made in France.

The brand is among the biggest players in that country in both serums and hair care. It recently entered the color cosmetics segment.

At Aroma-Zone today, people can shop raw ingredients, finished products or find a recipe to make a product themselves. Products are priced at less than 10 euros and go up to just about 20 euros.

Over the past five years, Aroma-Zone has more than tripled its sales with growth of 42 percent in 2023 and 56 percent in 2024.

The company expanded its customer count to more than 5 million and began to grow retail internationally in Belgium, Italy and the United Kingdom.

Aroma-Zone had just four stores when it was bought by Eurazeo. Today, there are more than 30 with plans calling for 12 new doors this year.

The online business generates half the company’s overall sales.

In 2021, 80 percent of the company’s business came from essential oils and DIY activity. Now, such oils are the smallest category in the group.

“When we invested in Aroma-Zone in 2021, we saw the opportunity to build a category-defining company at the intersection of natural beauty, wellness and preventative health,” said Amandine Ayrem, a partner at Eurazeo, in a statement released Thursday. “Beyond the exceptional authenticity and strength of the brand, we recognized a distinctive model built on trust, quality and accessibility.

“Today, the company is uniquely positioned for its next development phase,” she said. “The proposed transaction would allow Eurazeo to realize part of the value created, while reaffirming its confidence in the future of the company alongside new majority owner Partners Group.”

“Since its creation, Aroma-Zone has pursued a simple ambition: enabling everyone to take care of themselves with confidence,” Herlory Rouget said in the statement. “This ambition continues to guide every decision we make. As a mission-led company and newly certified B Corp, we believe that business performance, positive impact and trust are mutually reinforcing.

“The contemplated transaction would provide Aroma-Zone the opportunity to open a new chapter alongside Partners Group and our historical shareholder Eurazeo, and to continue expanding our mission of helping more people take care of themselves with confidence, in France and beyond,” the CEO said.