North Castle-led investor group to acquire fragrance lifestyle brand NEST New York from Eurazeo

The deal puts NEST at a valuation of about $200 million.

  • When the deal closes, Eurazeo and NEST Founder Laura Slatkin will retain minority ownership stakes in NEST New York
  • The transaction is expected to close at the end of November
  • Perella Weinberg Partners LP acted as financial advisor to NEST

Eurazeo has agreed to sell NEST New York, a fragrance lifestyle brand, to an investor group led by North Castle Partners-led investor group. The deal puts NEST at a valuation of about $200 million.

Eurazeo and NEST Founder Laura Slatkin will retain minority ownership stakes in the company.

Eurazeo’s Brands Division launched in May 2017 and NEST was its debut investment.

Jill Granoff, a managing partner of Eurazeo and CEO of Eurazeo’s Brands Division, said in a statement, “Laura, Maria and the NEST team have been exemplary partners, and together, we have built the NEST brand and driven tremendous value creation. We look forward to working with North Castle Partners on the next chapter of NEST’s growth to leverage the Company’s strong foundation and expand the business globally.”

The transaction is expected to close at the end of November. Perella Weinberg Partners LP acted as financial advisor to NEST.

Eurazeo has a diversified portfolio of €32.5 billion in assets under management, including nearly €23.4 billion from third parties.

North Castle invests in consumer driven product and service businesses. North Castle is headquartered in Greenwich, Connecticut.

NEST New York launched in 2008.