Macaron Maker Pierre Herme Is Getting a New Majority Owner

La Maison Pierre Herme, whose chef was once called the “Picasso of pastry” by Vogue magazine, is getting a new owner.

Investment firm Butler Industries bought an 85% stake in the high-end patisserie brand from a fund affiliated with the cosmetics company L’Occitane Group. Terms were not disclosed, but the fund makes investments of as much as 150 million euros ($170 million), according to founder Walter Butler.

La Maison Pierre Herme was founded in 1997 by Herme and Charles Znaty. In 2015, LOG Investment, the L’Occitane fund, bought a minority stake, with the founders initially remaining majority shareholders.

Herme ...