Unilever Buys South Korean Cosmetics Firm for $2.7 Billion

Unilever Buys South Korean Cosmetics Firm for $2.7 Billion

"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:

  • Kim Jong Un: 'Deranged' Trump will 'pay dearly' for threat

    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.
    Kim Kardashian's one-year-old son Saint West rocks cornrows

    Kim Kardashian's one-year-old son Saint West rocks cornrows

    News, "I've definitely seen a lot of things (about the surrogacy rumours), we've never confirmed anything". Right after delivery, the placenta usually then comes out.
    Trump claims Chinese banks won't do business with North Korea

    Trump claims Chinese banks won't do business with North Korea

    Trump has said he won't allow it, although the U.S.so far has not used military force to impede the North's progress. China also previously announced a ban on imports of iron ore, iron, lead, coal, and seafood from North Korea.
  • 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.
    1 dead, multiple injured in shooting at Tennessee church

    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.
    Tropical Storm Maria Becomes the Third Tropical System in the Atlantic

    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.
  • Twins 7, Tigers 3

    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.
    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.
    Hurricane Maria weakens on northern track; Lee tiny but strengthening

    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.
  • Keenum, Vikings Beat Buccaneers

    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.
    National Anthem: Detroit Lions singer takes knee, raises fist after singing song

    National Anthem: Detroit Lions singer takes knee, raises fist after singing song

    The Lions now rank No. 9 in the league in defense, as they've allowed just 289 yards per game so far this season. Standing with locked arms is good, kneeling is not acceptable.
    Will Fiorentina continue the fight?

    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.


Most liked

Rising trend of casino apps
For those who are looking for a specific game, Cherry Rush also includes a description of what games can be found each site. It used to be that if someone wanted to play a casino game they had to find a land based venue.

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.

Mexico Earthquake Death Toll Rises To 318
Foreign teams from the USA and elsewhere worked with dogs and hi-tech gear to try to detect signs of life under the rubble. Albarrán and the families of the missing aren't there yet, either. "There is a lot of distrust of authorities", he said.

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".

Broncos LT Garett Bolles (lower leg) expected to start against Bills
The Bills next take their 2-1 record on the road to face the reigning NFC champion Atlanta Falcons on Sunday, October 1st at 1pm. However, history is on the side of the Bills, as they have two of the last three meetings between these teams.

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.

SEC roundup: Georgia pummels Mississippi State
The offense put in its best performance of the season and rolled against what was considered a good Mississippi State defense. Fromm played an efficient and contained game, hitting 9-of-12 passes for 201 yards with two touchdowns and no interceptions.

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".

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 .

'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.

Natural disaster detected near North Korea nuclear test zone 'occurred naturally'
As for China, he said Beijing's cooperation is essential to prevent "a catastrophe" and conflict on the Korean Peninsula. North Korea is also believed to have an array of illicit revenue sources , such as cyberattacks , drugs and weapons.

11th Patient From Sweltering Nursing Home That Lost Power in Irma Dies
Funding 404 full-time positions, the turnpike system is budgeted at $1.57 billion for the current fiscal year, which began July 1. The Florida Department of Environmental Protection is also offering free day-passes to state parks until October 2018.

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.

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.