Unilever to Buy Skincare Firm Carver Korea for $2.6B

Share

It means that amid the tension of THAAD, domestic beauty brands have taken a direct hit, and beauty brands with technical know-how and specialty products are becoming case studies and showing off their potential.

The deal adds to Unilever's portfolio a company that previous year alone posted sales of €321 million and earnings before interest, taxes, depreciation and amortization of €137 million.

Continuing its expansion into the beauty and personal care business, Unilever is buying the cosmetics firm cosmetics firm Carver Korea for $2.71 billion, making Goldman Sachs's and Bain Capital's 60% investment past year look like a lovely deal, indeed.

Focusing on the Carver Korea deal, Ed Han, Bain Capital Private Equity managing director, said: "This has been a great opportunity for us to partner with a leading Korean company in an exciting segment of the cosmetics space and to help support its brand, operations and growth around the world".

The brand's portfolio includes essences, toners, moisturizers, masks and sun protection, with a focus on anti-aging, hydration and nourishment.

More news: Najar, Most Dreaded Terrorist In Kashmir's History Killed
More news: IFAB to lift poppy ban after Federation Internationale de Football Association revises provisions over shirt use
More news: Hurricane Maria stays strong, Lee a Tropical Storm again

Formed in 1999, Carver serves the North Asia region, supplying professional products to beauty salons.

In this photo provided by AHC, cosmetics brand under Carver Korea, South Korean actress Lee Bo-young poses for a photo in front of a photo wall in Seoul on September 5, 2017. The company's main brand is AHC, and it also sell whitening products.

"It is an impressive business that is completely aligned to our personal care strategy", Alan Jope, the president of Unilever's personal care business, said of Carver.

Unilever paid €2.27bn for its stake in Carver, a fast-growing skincare business which reported a threefold increase in revenues a year ago to €321m.

South Korea is the world's fourth largest market for skin care, according to Unilever. "Unilever is a strong partner to help the company in its next phase of growth and development".

Share