USA: Unilever to acquire Hourglass Cosmetics

Unilever, the FMCG giant, has announced that it has signed an agreement to acquire Hourglass Cosmetics, a US-based manufacturer of colour cosmetics.

Hourglass Cosmetics, which markets eye, lip and facial cosmetics, as well as the skincare brand Equilibrium, was founded in 2004 and promotes itself as being “at the revolutionary intersection of science, beauty and luxury”. The firm is “known for innovation, luxe packaging and exceptional product experience” and “acclaimed for its breakthrough formulations and technological innovation, including the use of active ingredients in complexion products”, according to a Unilever statement.

Commenting on the deal, Alan Jope, president personal care at Unilever, said: “We are delighted to be adding Hourglass to our portfolio of Prestige brands. The colour cosmetics category has been showing high growth-rates, driven by social media content, channel diversity and democratisation of professional makeup techniques, and it therefore presents a significant opportunity. Hourglass is already a successful brand in this space, offering fantastic make-up products that also deliver skin care benefits, and we look forward to continuing to grow this wonderful brand”.

Terms of the deal, which is expected to close in Q3 2017, were not disclosed.

Source: Unilever / Hourglass Cosmetics