Steiner Leisure, a global provider of spa services via brands, such as Bliss Spas, Chavana Spas, Club Med Spas, Elemis Spas, Mandara Spas, One & Only Spa, Remede Spas, and The Onboard Spa Steiner, and manufacturer and distributor of skin-, body-, and haircare products, including Bliss, Elemis Jou, La Thérapie, Laboratoire Remède, and Steiner, has announced its plans to merge with Catterton, a consumer-focused private equity firm, for $925 million. “This transaction will provide Steiner Leisure with greater flexibility to focus on our long-term business initiatives and improve our role as a global provider and innovator in beauty, wellness, and education,” says Leonard Fluxman, president and CEO of Steiner Leisure. “Catterton’s partnership is an important endorsement of our brands and the hard work and commitment of our team.” Steiner Leisure’s board of directors unanimously approved the unification on the recommendation of a committee comprised of independent directors. The transaction is expected to close in the fourth quarter of 2015 or in early 2016.
For more information, visit www.steinerleisure.com.