Unilever, the global FMCG firm, has announced that it is to buy South Korean skincare and cosmetics firm Carver Korea in a €2.27 billion deal.
Founded in 1999, Carver Korea originated as an aesthetics company supplying professional products to beauty salons, and is now said to be the fastest-growing skincare business in South Korea, through sales of its brand AHC. The AHC portfolio includes essences, toners, moisturisers, masks, and sun protection, including the flagship AHC Eye Cream For Face.
According to Unilever, Carver Korea is “focused on two high-demand consumer spaces: age management and hydration & nourishment”.
Commenting on the move, Alan Jope, Unilever president personal care, said: “We are delighted to be acquiring Carver Korea. It is an impressive business that is completely aligned to our Personal Care strategy. It will significantly strengthen our position in North Asia, the largest skincare market in the world; and will complement our existing portfolio, enabling us to offer luxury skincare products at attainable price points. AHC has been strongly gaining popularity thanks to its efficacious, innovative and premium products; and it therefore offers great opportunities for growth”.