Unilever's Most Expensive Deal in Years Is a Risk Worth Taking
27 September, 2017, 00:20 | Author: Darnell Patrick
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. "This industry has a strong influence on neighbouring countries such as China and Japan, so I'm sure Unilever plans to leverage this into their Chinese business, for example".
Unilever has agreed to buy a majority stake in cosmetics firm Carver Korea for $2.9 billion from Goldman Sachs and Bain Capital, the Seoul Economic Daily reported on Monday.
The Rotterdam-based Unilever is buying the company from Bain Capital Private Equity and Goldman Sachs.
Carver transaction would "significantly strengthen our position in North Asia, the largest skincare market in the world", said Alan Jope, the president of personal care division at Unilever.
"'They help preserve our market position in attractive segments where we can bring our global scale and local strengths to bear, ' the company said in its most recent annual report,' de la Merced points out".
Founded in 1999, "Carver's leading brand, AHC [Aesthetic Hydration Cosmetics], is focused on age management and skin hydration and nourishment, with a line of products that includes essences, toners, moisturizers, masks and sun protection products".
The Anglo-Dutch company announced the deal yesterday, saying Carver was the fastest-growing skincare business in South Korea, through sales of its A.H.C brand. The company's main brand is AHC, and it also sell whitening products.
Bain and Goldman held 60.39 percent of Carver at the end of 2016, while its founder Lee Sang-rok held a 35 percent stake. "Unilever is seeking to have new growth engines by acquiring Sir Kensington's, famous for its vegan mayonnaise, in April and organic tea company Pukka in September", said Oh Lina, an analyst at eBest Securities.
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