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L Catterton Management – Ex Nihilo Group

Waiver

WA-35004

View on ACCC website
Approved

Stage

Waiver application

Waiver Application Date

22/01/2026

Determination Published

04/02/2026 (13 cal / 8 bus. days)

Determination

Approved

Acquirers

Saphir Holdings SAS

Trade and Companies Registry Number 995 192 986

Targets

Ex Nihilo Group

Trade and Companies Registry Number 981 087 646

Other parties

L Catterton Management Limited

N/A

Description

L Catterton Management Limited, together with its controlled funds and affiliates (LCAT), proposes to acquire ~45% of the issued share capital of Ex Nihilo Group (Ex Nihilo), through LCAT’s controlled entity, Saphir Holdings SAS (Saphir).

LCAT is a consumer-focused private equity firm based in the United States with assets under management globally.

Ex Nihilo is a luxury fragrance house based in France specialising in the creation, production, and wholesale and retail distribution of high-end perfumes and related products. Ex Nihilo was launched in 2013 and has retailers operating worldwide.

Industries

Pharmaceutical and Toiletry Goods Wholesaling Pharmaceutical, Cosmetic and Toiletry Goods Retailing

Timeline & Events

  •

    Waiver application determination: Approved

    04/02/2026

    View document

  • Merger notified to ACCC

    22/01/2026