Unilever has agreed for a €2.27 billion ($2.67 billion) acquisition of Carver Korea from Bain Capital Private Equity and Goldman Sachs. Carver Korea, originally an aesthetics company that supplies professional products to beauty salons, has had exponential growth in the last five years and high success rate through the sale of its brand, AHC. Carver’s recent sales revenue was €321m ($378.5 million) and EBITDA of €137m ($161.5 million). AHC’s portfolio fulfills age management and hydration and nourishment, both lucrative consumer spaces. Their products include ‘Eye Cream for Face’, essences, toners, moisturizers, masks and sun protection.
According to Alan Jope, President of Unilever Personal Care, Unilever is delighted to acquire Carver Korea as it holds a strong position in North Asia; South Korea itself is the fourth largest skincare market and K-Beauty is becoming trendsetter, which is also the largest skincare market in the world. He added that the acquisition will also complement Unilever’s existing portfolio and enables the company to offer luxury skincare product at an attainable price. He added that AHC has been gaining popularity due to its efficacious, innovative and premium products and provides great opportunities for Unilever in the future.
Unilever is a British-Dutch multinational consumer goods company co-headquartered in Rotterdam, Netherlands, and London, United Kingdom. Unilever was founded in 1930 by the merger of the Dutch margarine producer Margarine Unie and the British soap maker Lever Brothers.
Unilever is organized into four main divisions – Foods, Refreshment (beverages and ice cream), Home Care, and Personal Care. Unilever owns over 400 brands, but focuses on 13 brands with significant sales:- Axe/Lynx, Dove, Omo, Becel/Flora, Heartbrand ice creams, Hellmann’s, Knorr, Lipton, Lux, Magnum, Rama, Rexona, Sunsilk and Surf.
It has research and development facilities in the United Kingdom, the Netherlands, China, India and the United States.