Investment adds a leading premium body care brand known for its distinctive scents, clean formulations, and loyal consumer following to Advent's consumer and beauty portfolio

Advent, a leading global private equity investor, today announced that it has signed a definitive agreement to acquire a majority stake in Salt & Stone, the Los Angeles-based, high-performance body care brand. The partnership will fuel Salt & Stone’s next phase of growth, deepening the brand’s global reach and connection with consumers. Terms of the transaction were not disclosed.

Founded in 2017 by former professional snowboarder Nima Jalali, Salt & Stone has quickly become a leader in the premium body care space. Drawing on his athletic roots, Jalali created the brand to fill a gap in the market with products that could keep up with an active lifestyle without compromising on ingredients, scent or design.

Since its inception, Salt & Stone has attracted a loyal worldwide following, dominating both premium retail through Sephora and the mass marketplace at Amazon, with its best-selling Deodorant ranking #1 in both channels. Salt & Stone’s business remains meaningfully indexed to direct-to-consumer across the U.S., Canada and UK, accounting for 40% of sales, a testament to the community built around its signature scents and high-performance formulas. Salt & Stone is available at Sephora globally and select leading retailers worldwide, with recent expansions into Sephora Europe and Space NK.

With more than $165 million in revenue and double-digit growth across all channels in 2025, Salt & Stone is one of the fastest-growing brands in premium body care – selling one deodorant every five seconds – and is well-positioned for continued innovation and expansion. The partnership with Advent will provide Salt & Stone with the resources, network and expertise to accelerate growth, and strengthen its presence across direct-to-consumer and premium retail channels globally.

David Paresky, a Director at Advent, said, “We are thrilled for the opportunity to partner with Salt & Stone, a truly exceptional brand that stands apart in the premium body care and wellness space for its ability to blend experience, performance, and a compelling brand aesthetic. Nima and the Salt & Stone team have built something rare – a brand with deep consumer loyalty, outstanding products, and an authentic purpose that resonates with today’s consumer all around the world. 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. We look forward to bringing our resources and expertise to support Nima and the team as they continue to redefine modern, elevated self-care.”

Nima Jalali, Founder and CEO of Salt & Stone, said, “From day one, I set out for Salt & Stone to be a legacy brand, built to last for the next hundred years and beyond. 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. This is just the beginning for Salt & Stone.”

The transaction is expected to close in April, subject to customary closing conditions. Following the close of the transaction, Jalali, alongside Meagan Rosson, President, and Abby Tellam, Chief Marketing Officer, will remain in key leadership roles, ensuring continuity of the creative vision and brand identity that have driven the company's success. Chris Elshaw, who has chaired beauty businesses including Paula’s Choice, Medik8 and Orveon Global as well as formerly served as Chief Operating Officer of Revlon, will become Chair of the company.

Jalali will remain an equity holder in Salt & Stone. Humble Growth, which made a minority investment in the company in 2024, will exit its investment. Jalali added, "I'm also grateful to Andrew Abraham, Evan Mintz and the team at Humble Growth for their early belief in the brand and support along the way."

Goldman, Sachs & Co. is serving as exclusive financial advisor and Ropes & Gray is serving as legal advisor to Advent. Raymond James is serving as exclusive financial advisor and Sidley Austin LLP is serving as legal advisor to Salt & Stone.

About Advent International

Advent is a leading global private equity investor committed to working in partnership with management teams, entrepreneurs, and founders to help transform businesses. With 16 offices across five continents, we oversee more than USD $100 billion in assets under management* and have made 448 investments across 44 countries.

Since our founding in 1984, we have developed specialist market expertise across our five core sectors: business & financial services, consumer, healthcare, industrial, and technology. This approach is bolstered by our deep sub-sector knowledge, which informs every aspect of our investment strategy, from sourcing opportunities to working in partnership with management to execute value creation plans. We bring hands-on operational expertise to enhance and accelerate businesses.

As one of the largest privately-owned partnerships, our 655 colleagues leverage the full ecosystem of Advent’s global resources, including our Portfolio Support Group, insights provided by industry expert Operating Partners and Operations Advisors, as well as bespoke tools to support and guide our portfolio companies as they seek to achieve their strategic goals.

To learn more, visit our website or connect with us on LinkedIn.

*Assets under management (AUM) as of September 30, 2025. AUM includes assets attributable to Advent advisory clients as well as employee and third-party co-investment vehicles.

About Salt & Stone

Salt & Stone is where iconic scents meet active formulas. Made for those active in mind, body, and spirit, each aromatic ritual blends naturally derived actives from the sea and mountains with transportive scents inspired by our connection to the natural world.

Created by former professional snowboarder Nima Jalali, Salt & Stone is rooted in a deep understanding of the elements—their effects on the skin and body—and a desire to blend wellness and performance, formulating products in harmony with nature and in celebration of the transportive power of scent.

Learn more at saltandstone.com

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