Dive Brief:
- Private equity investor Advent has acquired a majority stake in premium body care brand Salt & Stone. Terms of the deal were not disclosed.
- Advent’s investment will allow Salt & Stone to scale both its DTC and retail channels in the U.S. and internationally, according to a press release.
- The transaction is expected to close in April, subject to customary closing conditions. Following the closing of the deal, Salt & Stone will retain current senior management, including founder and CEO Nima Jalali, president Meagan Rosson and Chief Marketing Officer Abby Tellam. Chris Elshaw, veteran board adviser to such brands as Paula’s Choice, Medik8 and Orveon Global, will become chair of the company.
Dive Insight:
Founded by Jalali in 2017, Salt & Stone still touts a robust DTC business today, with 40% of its sales coming through that channel. But Advent’s investment provides the resources needed to grow the both the brand’s direct-to-consumer business as well as sales through retail channels.
“From day one, I set out for Salt & Stone to be a legacy brand, built to last for the next hundred years and beyond,” Jalali said in a statement. “With our incredible team and Advent's partnership, I have never believed in that future more than I do today. Advent shares our vision of building for the long term and will enable us to continue to redefine the category.”
Salt & Stone reached $165 million in revenue in 2025 with double-digit growth across all channels, per the release.
“At Advent, we have a long history of partnering with distinctive, founder-led beauty brands to help them achieve their global ambitions, and we see that same opportunity at Salt & Stone,” David Paresky, a director at Advent, said in a statement.
Despite current economic volatility and softness in the retail sector, a number of DTC brands have garnered the attention of private investors. DTC brand Quince, known for its cashmere sweaters, this month secured a $500 million investment, which placed its valuation at $10 billion. And DTC rug brand Ernesta recently secured $20 million in funding to fuel store expansion.
