E.L.F. Enters $355 Million Dollar Deal To Buy Naturium
E.L.F. Cosmetics has been inching into the skincare world little by little but their latest $355 Million Dollar Deal to acquire Naturium might just make their skincare portfolio a little bigger. E.L.F.’s parent company has agreed to acquire Naturium for a reported $355 million dollars. The deal is expected to close at the end of September.
“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 is quoted as saying. “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 percent, marking 18 consecutive quarters of more than 20 percent 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.”
The deal won’t change Naturium’s roots in L.A. as they plan to keep the original staff and business operation within California. Naturium is already sold at Target and E.L.F. is one of the largest beauty brands at Target according to reports. Bringing the together seems a natural fit. E.L.F.’s also acquired W3LL People back in 2020.
I really like some of Naturium’s offerings. I wonder if we’ll see further growth from this after this transaction is complete.
What do you think?