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P&G, Unilever Lead Indie Beauty Acquisitions

Shiseido and Diversey also make headlines for financial deals.

It's been a busy year for the household and personal care industry when it comes to business deals. Happi's Top 50 and Top 30 leaders have snapped up indie brands making waves in the marketplace.

Here's a look back at some of the hottest acquisitions in the industry for 2023.

P&G & Mielle Organics

Haircare brand Mielle Organics only spent a few days in Happi's January 2023 rising indie brands feature, as seen here. P&G Beauty then purchased Mielle Organics, best known for textured haircare and other personal care rooted in natural ingredients sold at stores like Ulta nd Target. Mielle Organics will continue to be led by co-founders Monique and Melvin Rodriguez, as CEO and COO, respectively, and will operate as an independent subsidiary of P&G Beauty.

Yellow Wood Partners & Suave Personal Care from Unilever

Boston-based private equity firm Yellow Wood Partners LLC struck a deal with Happi Top 30 leader Unilever to acquire its beauty and personal care brand, Suave, in North America.

Suave was one of the first brands in the 1930s to bring salon-quality hair care to the general public.  The Suave brand sells products for women, men and kids in mass retailers and e-commerce platforms.  The brand’s products include hair and body products including shampoos, conditioners, treatments and serums, styling products, body wash, antiperspirants and deodorants and skin care. It because cruelty-free in 2020, as reported in Happi.

Suave has been in the business since the 1930s!

Diversey & Solenis

Specialty chemicals company Solenis entered into an agreement to acquire Diversey in an all-cash transaction valued at an enterprise value of approximately $4.6 billion. Upon completion of the merger, Diversey is a private company.

Bain Capital, which invested in Diversey in 2017 and subsequently took the company public in 2021, is currently the largest shareholder of the industrial cleaning and hygiene company. Diversey is based in Fort Mill, SC and was ranked No. 13 in Happi’s 2022 Top 50 Report.

Headquartered in Wilmington, DE, Solenis is a manufacturer of specialty chemicals used in water-intensive industries. It was acquired by Platinum Equity in 2021.

US-based specialty chemicals company will take the I&I cleaning and hygiene company private.

Pierre Fabre & Même

The Pierre Fabre Group acquired Même, a French dermo-cosmetic brand for patients experiencing the side effects of cancer treatments. 
Même was established with oncologists and dermatologists to address the side effects of cancer treatments with founders Judith Levy Keller and Juliette Couturier at the helm. 
The acquisition cements the continuation of the commercial partnership forged in December 2017.

Lumene Group & Ida Warg Beauty

Lumene Group, a beauty company from Finland, acquired Ida Warg Beauty. A purchase price was not disclosed. Ida Warg Beauty, based in Sweden, is a leading player in the self-tanning category—just a few years after launch.

According to Lumene, the acquisition will complement the Group’s portfolio with another high-quality Nordic brand with great growth potential. This transaction strengthens Lumene Group’s position in the Nordic markets and aligns with the international growth strategy.

The sunless tanner market is growing with new brands.

Shiseido & Dr. Dennis Gross Skincare

Shiseido Company will buy Dr. Dennis Gross Skincare. The transaction is subject to customary regulatory approvals and closing conditions and is expected to close in the first quarter of 2024. Terms of the transaction were not disclosed. According to a report shared by Kyodo News Plus, said the deal was valued at $450 million.

The well-known US brand was launched in New York City in 2000 by former skin cancer researcher and practicing dermatologist Dr. Dennis Gross along with his wife Carrie Gross.

Shiseido said the acquisition fits into the growing interest in health and beauty as consumers increase their awareness of skin health and is a “complementary fit” for its prestige portfolio and “strategic addition” to brands such as Shiseido and Clé de Peau Beauté.

Unilever & K18

Unilever signed an agreement to acquire K18, a salon hair care brand. A purchase price was not disclosed. The deal is expected to close Q1 2024. The acquisition marks another step in the optimization of Unilever’s portfolio towards higher growth areas, according to the company. K18 is distributed through professional salons, retail and ecommerce, primarily in North America, UK and Australia. 

“We are thrilled to continue to grow our Unilever Prestige portfolio in high growth premium spaces with the addition of K18,” said Unilever Prestige CEO Vasiliki Petrou. “This acquisition complements our fast-growing portfolio of premium, culturally-relevant consumer brands. What Suveen, Britta and the team have created is a testament to the importance of brands built on unparalleled science, product efficacy and community love.” 

K18 was founded in 2020 by Suveen Sahib and Britta Cox, who call their creation “a pioneer of using social media to educate and engage consumers about the science of hair.”
And, this just in for 2024….

L'Occitane & Fireneze

Dr. Vranjes Fireneze had sales of nearly $46 million in 2023, according to Bluegem Capital Partners. Get the news here.
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