General Atlantic has partnered with KAYALI Co-Founder Mona Kattan to acquire the fragrance brand from Dubai-based Huda Beauty in a deal that involves buying back a stake held by private equity firm TSG Consumer Partners since 2017, according to a report by Reuters.
Following completion of the deal, Kattan will continue to lead the independent business as Chief Executive Officer.
While financial details have not been disclosed, the transaction aligns with General Atlantic’s approach of supporting founder-led companies in scaling their operations globally. KAYALI, launched in 2018 by Kattan, has rapidly grown into a key player in the luxury fragrance market, positioning itself alongside established industry giants.
The deal also marks an exit for TSG Consumer Partners, which originally invested in Huda Beauty seven years ago. The San Francisco-based private equity firm has been active in beauty and personal care, previously backing brands like Revolve, elf Beauty, and Brew Dr Kombucha.
Several major financial and legal advisors played a role in structuring the transaction. Goldman Sachs International acted as Huda Beauty’s financial advisor, with Gibson Dunn providing legal counsel. Mona Kattan was advised by Skadden, Arps, Slate, Meagher & Flom, while General Atlantic’s financial advisory was handled by Raymond James, with Latham & Watkins as legal counsel.
