08.29.23
e.l.f. Beauty has signed a definitive agreement to acquire Naturium, a fast-growing, high performance skincare brand, for $355 million in a combination of cash and stock. This purchase furthers e.l.f. Beauty’s mission to “make the best of beauty accessible to every eye, lip, face and skin concern.”
The deal is expected to double e.l.f. Beauty’s presence in skincare to approximately 18% of retail sales. The transaction, which is subject to customary closing conditions, is expected to close around September 30, 2023.
“We are thrilled to welcome Naturium to the e.l.f. Beauty family,” said Tarang Amin, e.l.f. Beauty’s Chairman and Chief Executive Officer. “Naturium aligns with e.l.f. Beauty’s vision to create a different kind of beauty company with brands built to disrupt norms, shape culture and connect communities through positivity, inclusivity and accessibility. Nearing two decades in business, we continue to deliver exceptional results. In August, we raised our Fiscal 2024 outlook after posting quarterly net sales growth of 76%, marking 18 consecutive quarters of more than 20% sales growth on average. e.l.f. SKIN is one of the fastest growing skincare brands, and Naturium joining e.l.f. Beauty presents a unique opportunity to significantly accelerate the potential we see in skincare.”
The brand has seen strong growth, with net sales growing at an approximately +80% CAGR over the last two years, and approximately $90 million of net sales expected this year.
Naturium is known for ingredient-led formulas that combine efficacy with an elevated skincare experience at an accessible price point. Some of its best-selling products include The Glow Getter Multi-Oil Hydrating Body Wash, Vitamin C Complex Serum and Dew-Glow Moisturizer SPF 50.
Naturium products are currently available at Target, Amazon, the brand’s website and select international retailers. Naturium was awarded Beauty Vendor of the Year in 2022.
“We have remained disciplined in pursuing strategic extensions that can leverage our strengths and bring complementary capabilities to e.l.f. Beauty,” continued Amin. “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. Naturium demonstrates the same spirit, values and growth characteristics we find in e.l.f."
“We’ve built an incredible brand, with numerous superstar formulas, a dedicated community and a world class team in less than four years,” said Susan Yara, Naturium’s Founder. “I have admired e.l.f., and their deep commitment to being a different kind of beauty company, for years now. They care about their community and their employees, which is truly meaningful to me, especially as a female founder. With our complementary missions and cultures, I know e.l.f. Beauty will be the ideal partner as we expand our reach, and continue to make high performance skincare accessible for all.”
e.l.f. Beauty says it plans to continue to operate the Naturium business from its headquarters in Los Angeles, CA, “nurturing its entrepreneurial spirit and maintaining the brand’s passionate team of employees.”
More recently, e.l.f. Cosmetics launched “Show Your(s)e.l.f.”—an uplifting series featuring inspirational stories from role models overcoming adversity to help bring more positivity, inclusivity and accessibility to the beauty industry.
The deal is expected to double e.l.f. Beauty’s presence in skincare to approximately 18% of retail sales. The transaction, which is subject to customary closing conditions, is expected to close around September 30, 2023.
“We are thrilled to welcome Naturium to the e.l.f. Beauty family,” said Tarang Amin, e.l.f. Beauty’s Chairman and Chief Executive Officer. “Naturium aligns with e.l.f. Beauty’s vision to create a different kind of beauty company with brands built to disrupt norms, shape culture and connect communities through positivity, inclusivity and accessibility. Nearing two decades in business, we continue to deliver exceptional results. In August, we raised our Fiscal 2024 outlook after posting quarterly net sales growth of 76%, marking 18 consecutive quarters of more than 20% sales growth on average. e.l.f. SKIN is one of the fastest growing skincare brands, and Naturium joining e.l.f. Beauty presents a unique opportunity to significantly accelerate the potential we see in skincare.”
About Naturium
Naturium was launched in 2019 by Los Angeles based brand accelerator, The Center, and propelled further in 2020 with the joining of one of the industry’s leading skincare authorities, Susan Yara as a founder, as well as a minority investment in 2021 from the female-founded growth equity firm Prelude Growth Partners.The brand has seen strong growth, with net sales growing at an approximately +80% CAGR over the last two years, and approximately $90 million of net sales expected this year.
Naturium is known for ingredient-led formulas that combine efficacy with an elevated skincare experience at an accessible price point. Some of its best-selling products include The Glow Getter Multi-Oil Hydrating Body Wash, Vitamin C Complex Serum and Dew-Glow Moisturizer SPF 50.
Naturium products are currently available at Target, Amazon, the brand’s website and select international retailers. Naturium was awarded Beauty Vendor of the Year in 2022.
“We have remained disciplined in pursuing strategic extensions that can leverage our strengths and bring complementary capabilities to e.l.f. Beauty,” continued Amin. “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. Naturium demonstrates the same spirit, values and growth characteristics we find in e.l.f."
“We’ve built an incredible brand, with numerous superstar formulas, a dedicated community and a world class team in less than four years,” said Susan Yara, Naturium’s Founder. “I have admired e.l.f., and their deep commitment to being a different kind of beauty company, for years now. They care about their community and their employees, which is truly meaningful to me, especially as a female founder. With our complementary missions and cultures, I know e.l.f. Beauty will be the ideal partner as we expand our reach, and continue to make high performance skincare accessible for all.”
e.l.f. Beauty says it plans to continue to operate the Naturium business from its headquarters in Los Angeles, CA, “nurturing its entrepreneurial spirit and maintaining the brand’s passionate team of employees.”
More e.l.f. Beauty News
Earlier this year, e.l.f. beauty teamed up with American Eagle to launch a denim-inspired makeup and skincare collection.More recently, e.l.f. Cosmetics launched “Show Your(s)e.l.f.”—an uplifting series featuring inspirational stories from role models overcoming adversity to help bring more positivity, inclusivity and accessibility to the beauty industry.
