Payot Embraces New Growth Phase with Ushopal Acquisition
Deal News | Mar 25, 2025 | LBPO France
LBO France, a respected multi-specialist and multi-country investment platform, has announced the sale of Payot, an iconic French cosmetics brand founded in 1920, to Ushopal, a leading Chinese beauty group. LBO France played a crucial role in Payot's transition after acquiring it from the Puig Group by carving out its activities and structuring necessary support functions. Under its stewardship, Payot's sales grew from €25 million in 2014 to €38 million in 2024, focusing on premiumization and eco-friendly packaging. During its ownership, LBO France expanded Payot's distribution channels, improved its digital presence, and bolstered international revenues. The sale to Ushopal marks the start of a new growth stage with a focus on accelerating expansion in Asia, especially China. Hugues de La Chevasnerie, CEO of Payot, expressed his gratitude for LBO France's support and highlighted the future opportunities in Asia. Jean-Marie Leroy, a partner at LBO France, praised Payot's transformation over ten years and expressed confidence in its future under Ushopal.
Sectors
- Private Equity
- Cosmetics
Geography
- France – LBO France is headquartered in France and Payot is a French brand.
- China – Ushopal, a Chinese beauty group, is the acquirer of Payot.
Industry
- Private Equity – LBO France is a private equity firm that engaged in the acquisition and sale of Payot.
- Cosmetics – Payot, the focus of the transaction, is an iconic French cosmetics brand.
Financials
- €25 million – Payot's sales in 2014.
- €38 million – Payot's sales in 2024.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Payot | Target Company | Company | An iconic French cosmetics brand founded in 1920. |
| LBO France | Selling Company | Private Equity | A multi-specialist and multi-country investment platform in private equity, real estate, and other sectors. |
| Ushopal | Bidding Company | Company | A Chinese beauty group acquiring Payot. |
| Puig Group | Previous Owner | Company | Affiliated with Payot before LBO France's acquisition. |
| Hugues de La Chevasnerie | CEO | Person | The CEO of Payot. |
| Jean-Marie Leroy | Partner | Person | Partner in charge of Small Caps at LBO France. |