Beauty giant E.L.F Beauty has agreed to acquire skincare brand Naturium for $355 million in cash and stock.
The deal, which is expected to close by September 2023, will double the company’s skincare-related sales to approximately 18%.
Nautirium was launched in 2019 by L.A.-based beauty accelerator The Center. A year later, it received a minority investment from female-founded growth equity firm Prelude Growth Partners and saw skincare industry veteran Susan Yara join the company as a founder. Since then, the brand has recorded significant growth, with its net sales growing by more than 80% CAGR over the past two years. And this year, the company expects to see nearly $90 million in sales.
The brand offers a variety of products that promise to deliver an elevated skincare experience at an affordable price point. Some of its bestsellers include the Glow Getter Multi-Oil Hydrating Body Wash, Vitamin C Complex Serum, and Dew-Glow Moisturizer SPF 50. Most of its products are priced at approximately $18 and are available on its website, Amazon, Target, and select international retailers.
Last year, Nautirium was named Beauty Vendor of the Year by Target, where it continues to perform as one of the fastest-growing skincare brands.
“Naturium aligns with E.L.F Beauty’s vision is to create a different kind of beauty company with brands built to disrupt norms, shape culture, and connect communities through positivity, inclusivity, and accessibility,” said Tarang Amin, E.L.F Beauty’s Chairman and Chief Executive Officer.
“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,” Amin added. “Naturium demonstrates the same spirit, values, and growth characteristics we find in E.L.F”
E.L.F’s acquisition of the brand comes less than a month after the company raised its fiscal 2024 outlook after reporting 76% growth in quarterly net sales, marking 18 consecutive quarters of more than 20% sales growth on average.
Photo credit: E.L.F
