Latest News
In accordance with Article 13 of Law No. 104-12 on freedom of prices and competition and Article 10 of Decree No. 2-14-652 adopted for its implementation, as amended and supplemented, the Competition Council makes available to the public the “summary of the operation” below, containing the information provided by the parties.
This information has been prepared by the notifying parties, who are solely responsible. Any inaccurate or distorted information contained therein does not in any way prejudge the Competition Council’s position on the proposed operation.
The publication of this press release does not attest to the completeness of the file provided for in Article 9 of Decree No. 2-14-652 adopted for the implementation of Law No. 104-12 on freedom of prices and competition, as amended and supplemented.
Names of the companies and groups concerned:
- The acquirer: funds advised and/or managed by the company “Partners Group AG” and its affiliates (PG);
- The direct acquirer: the company “Elixis BidCo”;
- The historical partner: the company “Eurazeo S.E.”;
- The target: the company “Aroma Zone Topco SAS” and the company “Legendre Holding 91 SAS”.
Nature of the operation:
- Joint control acquisition.
Economic sector concerned:
- Markets for the distribution of beauty products, personal care, cosmetics, and dietary supplements.
Deadline for interested third parties to submit their observations:
- 10 days from the date of publication of this press release, i.e. September 21, 2026.
NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES
The Competition Council received notification of an economic concentration project concerning the acquisition, by funds advised and/or managed by the company “Partners Group AG” and its subsidiaries, through the company “Elixis BidCo”, of joint control of the companies “Aroma Zone Topco SAS” and “Legendre Holding 91 SAS”, alongside their historical shareholder, the company “Eurazeo S.E.”.
“Partners Group AG” is a Swiss public limited company, registered in the commercial register of the canton of Zug under number CHE-108.431.605, with its registered office at Unternehmer-Park 3, 6340 Baar, Switzerland. It is 100% owned by “Partners Group Holding AG”. It operates globally in the field of investment management, particularly in private equity, private infrastructure, private debt, royalties, and real estate.
“Elixis BidCo” is a simplified joint-stock company under French law, registered in the commercial register of Paris under number 100 878 529, with its registered office at 3, boulevard de Sébastopol, 75001, Paris. It is controlled by the company “Partners Group AG” and its affiliates and is active in private market investments.
“Eurazeo S.E.” is a European public company under French law, registered in the commercial register of Paris under number 692 030 992, with its registered office at 66, rue Pierre Charron, 75008 Paris, France. It is the parent company of the “Eurazeo” group, an investment group primarily active in asset management in private markets, particularly in private equity, private debt, real estate, and infrastructure.
The company “Aroma Zone Topco SAS” is a simplified joint-stock company under French law, registered in the commercial register of Paris under number 898 345 723, with its registered office at 26, rue de l’École de Médecine, 75006 Paris, France. It is the holding company of the “Aroma-Zone” group.
The company “Legendre Holding 91 SAS” is a simplified joint-stock company under French law, registered in the commercial register of Paris under number 898 293 035, with its registered office at 66, rue Pierre Charron, 75008 Paris, France. It is part of the “Aroma-Zone” group, active in the beauty and wellness sector, particularly in facial and body care, hair care, essential and vegetable oils, natural extracts, cosmetic products, and dietary supplements.
Done in Rabat, September 10, 2026
