L'Occitane to Acquire Sol de Janeiro - NewsBreak

L'Occitane is buying a majority stake in Brazilian Bum Bum Cream maker Sol de Janeiro. The transaction values the company at $450 million. L'Occitane is acquiring an 83 percent stake in the business, and the remaining percent will be owned by founder and chief executive officer Heela Yang, who will stay on as chief executive officer.