Advent International considering $2 billion sale of Parfums de Marly business, FT reports

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 euros ($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 kicked off a strategic review of its consumer beauty unit, including brands CoverGirl and Rimmel, to sharpen its emphasis on premium perfumes.