E.l.f. Beauty acquires Naturium
E.l.f. Beauty signed a definitive agreement to acquire skin care brand Naturium for $355 million in a combination of cash and stock.
Through this deal, the company expects to double its presence in the skin care category to 18% of retail sales.
“We are thrilled to welcome Naturium to the e.l.f. Beauty family,” said Tarang Amin, e.l.f. Beauty’s chairman and chief executive officer. “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. Nearing two decades in business, we continue to deliver exceptional results. In August, we raised our fiscal 2024 outlook after posting quarterly net sales growth of 76%, marking 18 consecutive quarters of more than 20% sales growth on average. 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.”
[Read more: Plump it up: Lip liner, complexion-focused products make a comeback]
Launched in 2019 by Los Angeles-based accelerator The Center, Naturium was founded by Susan Yara and in 2021 obtained a minority investment from growth equity firm Prelude Growth Partners.
“We have remained disciplined in pursuing strategic extensions that can leverage our strengths and bring complementary capabilities to e.l.f. Beauty,” continued Amin. “Naturium has built something special. With efficacious products at accessible price points and a community first mindset, Naturium reminds me of where e.l.f. was when I became CEO over nine years ago. Naturium demonstrates the same spirit, values and growth characteristics we find in e.l.f.”
Some of the brand’s best-selling and most well-known products include The Glow Getter Multi-Oil Hydrating Body Wash, Vitamin C Complex Serum and Dew-Glow Moisturizer SPF 50, which are available at Target and Amazon, as well as select international retailers.
“We’ve built an incredible brand, with numerous superstar formulas, a dedicated community and a world class team in less than four years,” said Susan Yara, Naturium’s founder. “I have admired e.l.f., and their deep commitment to being a different kind of beauty company, for years now. They care about their community and their employees, which is truly meaningful to me, especially as a female founder. 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.”
[Read more: E.l.f. Cosmetics launches inspirational ‘Show Your(s)e.l.f.’ series]
E.l.f. Beauty plans to continue to operate the Naturium business from its headquarters in Los Angeles.