Unilever agrees to buy Carver Korea for €2.27 bln

Remigio Civitarese
Settembre 25, 2017

The Anglo-Dutch company has bought the entire business from Bain Capital Private Equity, Goldman Sachs and the firm's founder, strengthening its foothold in the Asian beauty market.

Founded in 1999, Carver is reportedly the fastest growing skincare business in South Korea and has shown exponential growth over the last five years - with sales of £282 million and earnings of £120 million in just last year. It is an impressive business that is completely aligned to our personal care strategy.

Consumer goods giant Unilever plc (UN, ULVR.L, UL) Monday said it has agreed to acquire Carver Korea, a skincare business in North Asia, for 2.27 billion euros from Bain Capital Private Equity and Goldman Sachs. The FTSE 100 group further notes that South Korea is the fourth-largest skincare market in the world, as well as a source of global beauty trends, with the term "K-Beauty" becoming a globally-used shorthand for sophisticated skincare that is widely exported.

The tie-up is subject to regulatory approval.

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