Private equity investment fund Advent International has acquired a majority shareholding of the group behind niche fragrance brands Parfums de Marly and Initio Parfums Privés.

Parfums de Marly was founded in 2009 by Julien Sprecher, inspired by his passion for the splendour of 18th century France, while Initio Parfums Privés was born in 2015, out of the desire to create singular and functional fragrances that trigger an emotional and physiological response.

Parfums de Marly and Initio Parfums Privés are already well-established in the US, Europe and the Middle-East. Advent International intends to accelerate their global growth, in partnership with Julien Sprecher, who will remain with the brands as Executive Chairman, Creative Director and as a large minority shareholder.

Financial terms of the transaction were not disclosed, but some media reports referring to industry sources estimated the deal would exceed a total of USD 700 million.