E.l.f. Beauty, the US cosmetics maker, has announced it has signed an agreement to acquire drugstore skincare brand Naturium for $355 million in a combination of cash and stock.
Naturium, which was launched in 2019 by brand accelerator The Center, claims to unlocks the benefits of natural botanicals and powerful actives with innovative technology. Its best-selling products include The Glow Getter Multi-Oil Hydrating Body Wash, Vitamin C Complex Serum and Dew-Glow Moisturizer SPF 50.
The brand has reportedly seen compound annual growth of 80% over the last two years, with net sales of $90 million this year.
Commenting on the acquisition, Elf Beauty chairman and chief executive officer Tarang Amin said: “Naturium aligns with e.l.f. Beauty’s vision to create a different kind of beauty company with brands built to disrupt norms, shape culture and connect communities through positivity, inclusivity and accessibility”.
“e.l.f. SKIN is one of the fastest growing skin care brands, and Naturium joining e.l.f. Beauty presents a unique opportunity to significantly accelerate the potential we see in skin care”, he added.
Naturium founder Susan Yara added: ” With our complementary missions and cultures, I know e.l.f. Beauty will be the ideal partner as we expand our reach, and continue to make high performance skin care accessible for all”.
The acquisition is expected to double e.l.f. Beauty’s skincare market share to around 18%, and is anticipated to be completed around 30th September, subject to customary closing conditions.
Source: E.l.f. Beauty