E.l.f. Beauty To Acquire Naturium For $355 Mln In Cash And Stock

(RTTNews) - e.l.f. Beauty (ELF) agreed to acquire Naturium, a skin care brand, for $355 million in a combination of cash and stock.

The transaction is expected to close around September 30, 2023.

The deal is expected to double e.l.f. Beauty's presence in skin care to approximately 18% of retail sales.

e.l.f. Beauty plans to continue to operate the Naturium business from its headquarters in Los Angeles, CA.

In August, e.l.f. Beauty raised its Fiscal 2024 outlook after posting quarterly net sales growth of 76%, marking 18 consecutive quarters of more than 20% sales growth on average.