Unilever Buys South Korean Cosmetics Firm for $2.7 Billion

Unilever share price: Group to buy Carver Korea for €2.27bn

"Unilever continues to build a portfolio of niche brands in premium beauty to capture opportunities in high-margin dynamic categories", said Ildiko Szalai, analyst at Euromonitor International, which says the South Korean beauty and personal care market has grown faster than the global average over the past five years. That year, according to Unilever, the Korean company reported €321 million in sales and €137 million in earnings before interest, taxes, depreciation and amortization.

Alan Jope, Unilever President Personal Care, said "We are delighted to be acquiring Carver Korea".

Purchasing the firm from Bain Capital Private Equity and Goldman Sachs for €2.27 billion, or about $2.6 billion, the consumer products giant said it believes the company is poised to grow both in the northern Asia region and beyond.

The contract also marks the largest merger and acquisition deal ever for a South Korean cosmetics firm. Past year it embarked on a restructuring aimed at making its local units more responsive to trends in their markets and is employing its own social-media influencers while also buying local brands.

Bain and Goldman Sachs had jointly bought around 60 per cent stake in Carver Korea past year for around $500 million.

Bain and Goldman Sachs jointly bought about 60 percent of Carver for roughly $500 million past year, a source familiar with the matter said on Monday.

The company, which makes products like Hellmann's mayonnaise and Lipton tea, has sought to shrink its exposure to slow-growth commodity businesses like food spreads, a line of products that it is in the process of selling.

Carver Korea, Bain Capital and Goldman Sachs were not available for immediate comment.

"South Korea is the fourth-largest skincare market in the world", the company said in the statement. AHC's products include moisturizers, toners and sun protection.

This is not the first time Unilever has struck a deal in the beauty business - in 2015 alone, it bought four high-end skin-care brands.

Related News:

  • North Korea accuses US President Donald Trump of declaring war

    North Korea accuses US President Donald Trump of declaring war

    Tensions between the the USA and North Korea have been growing over North Korea's missiles and a recent nuclear weapons test. The US and North Korea have been engaged in an angry war of words with both countries threatening to destroy each other.
    Graham: Kimmel bought liberal talking point 'hook, line and sinker'

    Graham: Kimmel bought liberal talking point 'hook, line and sinker'

    Without Collins' vote, Republicans would not have the 50 votes needed to repeal the ACA, better known as Obamacare . Under Senate budget rules, Republicans only have until September 30 to pass a repeal bill with a simple majority.
    'Star Trek: Discovery' Main Title Sequence Debuts Before Series Premiere!

    'Star Trek: Discovery' Main Title Sequence Debuts Before Series Premiere!

    Saru is the science officer aboard the Discovery who is easily compared to Spock and Data from previous Star Trek series. Aside from the ship's registration number, NCC-1031, not much else is known about the Discovery , except its shape.
  • Leo Messi quizzes a Man City starlet

    Leo Messi quizzes a Man City starlet

    And speaking after the game, left-back Alba says opposition managers simply can not stop Messi from performing. If there was good fortune about Barcelona's first two goals , there could be no debating their third.
    Russian Federation  tells North Korea, US 'hot heads' to calm down

    Russian Federation tells North Korea, US 'hot heads' to calm down

    Chinese Foreign Minister Wang Yi put forward a similar proposal, suggesting that "negotiation is the only way out". Today, Lavrov said, "our relations are contracting due to Russo-phobic hysteria".
    MILO Challenges Janet Napolitano and Berkeley Chancellor to Debate

    MILO Challenges Janet Napolitano and Berkeley Chancellor to Debate

    All we really know at this point is that the school didn't cancel the event, it was the student group which was hosting it. However, Yiannopoulos announced Saturday that he would appear with other conservative firebrands at an unsanctioned rally.
  • Kim Jong Un: 'Deranged' Trump will 'pay dearly'

    Kim Jong Un: 'Deranged' Trump will 'pay dearly'

    "Anything that Trump says along the lines of threatening to destroy North Korea has to be taken with a grain of salt". In that speech, the US President mocked the North Korea leader as a Rocket Man on a suicide mission.
    WAFU Cup of Nations: Stephen Sarfo wins Man of the Match

    WAFU Cup of Nations: Stephen Sarfo wins Man of the Match

    Early in the second half, Super Eagles coach Yusuf Salisu threw on Gabriel Okechukwu for Ubong Friday, who was on a yellow card. The switch didn't deter Ghana who continued to run down the Nigerian team.
    Syrian Army Captures New Settlements in Deir Ezzor

    Syrian Army Captures New Settlements in Deir Ezzor

    An attack by Syrian President Bashar al-Assad's military eliminated ISIS elements from the field earlier in August. Talal Sillo, said battles in the area left 65 Islamic State fighters dead while more than 100 gunmen surrendered.
  • Australia post 293-6 in third ODI against India

    Australia post 293-6 in third ODI against India

    Kuldeep Yadav's hat-trick, and Kohli's 92 helped India to take lead by 2-0 against Australia in the ongoing five day ODI series . In-form Smith and Finch displayed calculative batting as they didn't restrain themselves from playing big shots.
    Twitter is field testing a lightweight app in the Philippines

    Twitter is field testing a lightweight app in the Philippines

    The new app boasts of its own dedicated Data Saver mode that has the ability to conserve additional mobile data. Still, Twitter Lite provides the usual features that you would expect from a Twitter branded app.
    South Korea says natural North Korea quake  detected

    South Korea says natural North Korea quake detected

    China's Earthquake Administration said the quake was not a nuclear explosion and had the characteristics of a natural tremor . Treasury to target individuals and firms that trade goods, services and technology with North Korea .


Most liked

Kim Jong Un: 'Deranged' Trump will 'pay dearly' for threat
North Korea has said it intends to build a missile capable of striking all parts of the United States with a nuclear bomb. Treasury could sanction anyone who owns, controls or operates a port of entry in North Korea.

Chris Johnson could be featured at RB vs. Cowboys
While it is always nice to see the Cardinals able to get their practice time in, remember it is game time where it counts. Things will not get any easier for the Dallas Cowboys rush attack. - The Cardinal Special Teams was close to an "A".

Keenum, Vikings Beat Buccaneers
Not once did he fumble or throw an interception, unlike Tampa Bay quarterback Jameis Winston , who tossed three picks on Sunday. Minnesota Vikings running back Dalvin Cook carries the ball during the first quarter against the Tampa Bay Buccaneers at U.S.

China's August trade with North Korea up after United Nations sanctions
Geological Survey and the European Mediterranean Seismological Center also detected the quakes but could not confirm their cause. This test , the most powerful ever conducted by North Korea , had caused an quake of magnitude 6,3 felt up in China .

How expensive a Alibaba Group Holding Limited (BABA) stock is?
The stock of Alibaba Group Holding Ltd (NYSE: BABA ) has "Overweight" rating given on Saturday, August 29 by Morgan Stanley. With 966,400 avg volume, 16 days are for Sensata Tech Holding NV (NYSE:ST)'s short sellers to cover ST's short positions.

MotoGP Aragon: Marquez 'nearly crashed many times' on way to win
With the top five spots dominated by Honda, Ducati and Yamaha, Aprilia's Aleix Espargaro finished sixth ahead of Aspar Ducati's Alvaro Bautista.

Texans' Clowney lives on the edge after Gronk spike on touchdown recovery
Both Danny Amendola and Rob Gronkowski are expected to play on Sunday, so Brady should have no trouble finding an open receiver. Even with their departures, the Texans still feel like a team doing all they can to emulate the Patriots.

Collins: 'Difficult' to Envision Scenario Supporting This Healthcare Bill
Mr McCain said it was wrong to pass such far-reaching legislation without input from the Democrats. Lisa Murkowski is at the moment. "Senators should reject the Graham-Cassidy repeal plan".

Twins 7, Tigers 3
Granite was also the final run of the inning when he smashed at three-run homer.by the end of the inning Minnesota was up 10-3. Among those teams is the Minnesota #Twins who now hold the final #wild card spot in the American League.

1 dead, multiple injured in shooting at Tennessee church
- Metro Nashville PD (@MNPDNashville) September 24, 2017Such tragic news in Antioch today at Burnette Chapel Church of Christ. Authorities will be continuing to keep an eye on the conditions of the six others injured from the church.

Hurricane Maria weakens on northern track; Lee tiny but strengthening
These swells will be increasing along the Mid-Atlantic coast later today , according to the Hurricane Center. Toppled trees cut power lines and streets were turned into rivers.

Tropical Storm Maria Becomes the Third Tropical System in the Atlantic
The main impact of Jose is expected to be be very rough surf and risky rip currents that will continue through at least Tuesday. A depression in the Caribbean was elevated on Saturday to Tropical Storm Maria and had winds of 65 miles per hour on Sunday.

Someone Used The Latest Doomsday Prophecy To Send A Creepy Prank Emergency Warning To Orange County
For him, the 33 was a key-number in his preach, so he linked to the August 21 solar eclipse in a very particular way. The baby boy will be the planet Jupiter, which will be moving out of Virgo on that night.

Will Fiorentina continue the fight?
Another 16 goals brought Lorenzo Insigne, 13 goals went from Jose Callejon and 11 from Marek Hamšík. Forecasts Bookmakers consider Napoli as the main favorite - the coefficient for the victory of the hosts is 1.28.

3 Entertaining Ways to Improve Your Business Skills over the Coming Weeks
In both games and business meetings you may feel everything from frustration to elation, but the trick is to keep is all hidden. Play Poker While millions of people around the world may play poker solely for fun, you can also play to up your business game.