In a significant development, LANXESS has announced that it will not be selling its stake in the ENVALIOR joint venture to Advent HoldCo as previously anticipated. This decision comes as Advent HoldCo had planned to acquire the stake in 2026, but recent confirmations indicate that LANXESS will continue to play an active role in the partnership.

The announcement follows LANXESS’s tendering of its stake in ENVALIOR back in September 2025. Despite the initial plans for a change in ownership, LANXESS has reaffirmed its commitment to the joint venture, which is crucial for its strategic objectives. The company is solidly financed and holds a strong cash position, with €1.35 billion in undrawn credit lines, allowing it to sustain its operations and investments effectively.

In a related development, Estée Lauder Companies has confirmed its intention to acquire the remaining interests in Forest Essentials, a brand founded in 2000 by Mira Kulkarni. Estée Lauder first made a minority investment in Forest Essentials in 2008 and increased its stake to 49% in 2020. The acquisition is expected to close in the second half of calendar year 2026, marking a significant expansion of Estée Lauder’s portfolio in the luxury skincare market.

Stéphane de La Faverie, a representative from Estée Lauder, commented, “Today marks a meaningful new chapter in a partnership built over the past 18 years on a foundation of mutual trust and respect.” This sentiment reflects the long-standing relationship between the two companies and the anticipated benefits of the full acquisition.

Mira Kulkarni, the founder of Forest Essentials, expressed her pride in the brand’s journey, stating, “Over the past 25 years, we have built this brand with an uncompromising commitment to the authenticity, craftsmanship and wisdom of our heritage.” This dedication to quality and heritage has been a cornerstone of Forest Essentials’ success, which now boasts around 200 freestanding stores.

As LANXESS continues its partnership with ENVALIOR and Estée Lauder moves forward with its acquisition of Forest Essentials, both companies are positioning themselves for future growth in their respective markets. The ongoing developments highlight the dynamic nature of the business landscape and the strategic decisions companies must make to remain competitive.

Details remain unconfirmed regarding any further implications of these decisions on the market or on the operational strategies of the involved companies. However, the current trajectories indicate a robust commitment to maintaining strong partnerships and enhancing brand value in the coming years.

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