August 29, 2023
e.l.f. Beauty is poised to acquire Naturium, a fast-growing, high performance skin care brand for $355 million in a combination of cash and stock, furthering its mission to make the best of beauty accessible to every eye, lip, face, and skin concern.
The deal is expected to double e.l.f. Beauty’s presence in skin care to approximately 18% of retail sales.
“We are thrilled to welcome Naturium to the e.l.f. Beauty family,” said Tarang Amin, chairman and CEO, e.l.f. Beauty. “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.”
Naturium was launched in 2019 by Los Angeles-based brand accelerator, The Center, and propelled in 2020 with the joining of one of the industry’s leading skin care authorities, Susan Yara as a founder, as well as a minority investment in 2021 from the female-founded 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."
Naturium creates powerful ingredient-led formulas that combine efficacy with an elevated skin care experience at an accessible price point. Some of its best-selling products include The Glow Getter Multi-Oil Hydrating Body Wash, Vitamin C Complex Serum, and Dew-Glow Moisturizer SPF 50.
“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.”
e.l.f. Beauty plans to continue to operate the Naturium business from its headquarters in Los Angeles, CA, nurturing its entrepreneurial spirit and maintaining the brand’s passionate team of employees.
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