Global investment company Eurazeo has acquired US-based NEST Fragrances from Tengram Capital Partners for nearly $70m.

NEST Fragrances was founded by Laura Slatkin in 2008, while Eurazeo Brands was launched in May 2017.

The investment will be used to expand NEST’s product range across retail and digital avenues, as well as to increase access to customers worldwide.

Following the deal, Slatkin will continue to hold the role as founder and executive chairman, while Nancy McKay will continue to be CEO of NEST Fragrances.

“The investment will be used to expand NEST’s product range across retail and digital avenues.”

Eurazeo Brands CEO Jill Granoff said: “We are delighted to partner with Laura and Nancy to accelerate NEST’s growth across product categories, channels, and geographies.

“The company’s successful track record to date and global growth prospects make NEST Fragrances the ideal first investment for Eurazeo Brands. NEST has developed a very strong brand that resonates with a broad consumer base driven by its compelling fragrances, distinctive packaging, and accessible luxury positioning.”

NEST Fragrances offers a collection of more than 30 home and fine fragrance categories sold in department stores, retailers, boutiques, and digital channels.

NEST Fine Fragrances Collection consists of eight fragrances available in eau de parfum sprays and roller balls.

Eurazeo Brands has plans to invest a total of $800m in the US and European consumer companies with diversified brands across a range of verticals including beauty, fashion, home, wellness, leisure and food.