Salt & Stone Acquired by Advent International — Consumer M&A

Advent International has acquired a majority stake in Salt & Stone, a consumer brands dtc body care business in California, for $165 million. Salt & Stone is a Los Angeles-based premium body care and fragrance brand founded in 2017, selling through DTC, wholesale, and major retail partners. The brand reached $165 million in revenue in 2025 and grew double-digits across channels, with its own website accounting for about 40% of sales. The Advent International acquisitions are structured as a platform acquisition led by a private equity buyer, supporting consumer M&A and CA acquisitions in personal care. The deal is announced under a definitive agreement, with deal terms and valuation not fully disclosed and a close expected after customary approvals.