e.l.f. Beauty Acquires Naturium

e.l.f. Beauty (NYSE: ELF) has signed a definitive agreement to acquire Naturium, a fast-growing, high-performance skincare brand, for USD 355 million in a combination of cash and stock. The acquisition reflects the company's mission to make its eye, lip, face and skincare products accessible. The acquisition is expected to double e.l.f. Beauty's skincare operations and increase retail sales to approximately 18%. Naturium is known for its potent formulations that combine efficacy with high-quality skincare experience at an accessible price point. Among the company's best-selling products are The Glow Getter Multi-Oil Hydrating Body Wash, Vitamin C Complex Serum and Dew-Glow Moisturizer SPF 50. Tarang Amin, Chair of the Board and Chief Executive Officer of e.l.f. Beauty, said: "We are thrilled to welcome Naturium to the e.l.f. Beauty family. Naturium aligns with our vision to build a different kind of beauty company with brands built to break norms, shape culture and bring communities together through positivity, inclusivity and accessibility. As we approach two decades of operations, we continue to deliver exceptional results. In August, following 76% growth in quarterly net sales, we raised our projected growth rate for fiscal year 2024 and have achieved average sales increases of over 20% for 18 consecutive quarters. e.l.f. SKIN is one of the fastest-growing skincare brands, and Naturium joining e.l.f. Beauty represents a unique opportunity to significantly accelerate the potential we see in skincare," he said. Following the acquisition, e.l.f. Beauty intends to continue Naturium's operations at its existing headquarters in Los Angeles, CA, foster the company's entrepreneurial spirit and retain the brand's capable workforce. Source