Advent International acquires majority stake in millennial-focused Salt & Stone

Advent International has signed a deal to acquire a majority stake in natural body care brand Salt & Stone. The terms of the deal, including its size and valuation, have not yet been disclosed.

The deal follows Salt & Stone’s strong fiscal performance in 2025, generating US$165 million in revenue. The brand grew double digits in the span of the year across its channels, including sales on Amazon, Sephora, and the Salt & Stone website.

Potential streams of growth for the brand include its broadening consumer base and international expansion through Sephora Europe and British retail platform Space NK.

Advent says that Salt & Stone’s versatility in the fragrance space, as well as the body wash and deodorant segments, is what drew the private equity investor to the brand.

“We felt the right alignment and connection on where they wanted to take the brand, and where they were driving equities with consumers around a luxurious feel but a clean product that aligns nicely with wellness trends but also delivers a fantastic experience,” Dave Paresky, Director at Advent International, told WWD.

While the current core consumer demographic of Salt & Stone is made up of millennials, “younger consumers that are interested in fragrance are discovering the brand,” says Abby Tellam, chief marketing officer at Salt & Stone. “The brand is resonating and is incredibly broad.”

The deal stipulates that founder Nima Jalali, president Meagan Rosson, and Tellam will remain in their roles while Chris Elshaw will become chair of the company. Elshaw has previously chaired industry names such as Paula’s Choice and acted as COO of Revlon.

Jalali will preserve a minority stake in the company, and 2024 investor Humble Growth will exit.

Salt, Stone, Tequila

Simultaneously, Salt & Stone has partnered with model and TV personality Kendall Jenner to bring her spirit brand, 818 Tequila, into the beauty category.

The move enables 818 Tequila to expand its reach into the beauty segment by tapping into the increasing demand for olfactory-focused body care products.

The limited-edition body-care Amber & Agave collection features a Mini Trio Set — consisting of a deodorant, body mist, and body wash — and a candle. The range initially debuted on the brand’s website, followed by availability on Sephora.

Playing off the tequila brand’s taste profile, the fragrance inspiration draws from vetiver, tequila, plum, agave, vanilla, and amber notes.

The launch is timed to coincide with Coachella, leveraging the cultural moment for optimized reach and exposure.