e.l.f. Beauty Announces Definitive Agreement to Acquire Naturium

Two Gen Z favorites are teaming up.

September 8, 2023

(From L to R): All of the e.l.f. Beauty brands; e.l.f., Well People, Naturium, e.l.f. Skin and Keys Soulcare. e.l.f. Beauty

e.l.f. Beauty has signed a definitive agreement to acquire skincare brand Naturium. The deal is expected to double e.l.f. Beauty’s presence in skin care to approximately 18% of retail sales. The transaction, which is subject to customary closing conditions, is expected to close around Sept. 30.

“We are thrilled to welcome Naturium to the e.l.f. Beauty family,” says Tarang Amin, chairman, chief executive officer, e.l.f. Beauty. “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 skin care brands, and Naturium joining e.l.f. Beauty presents a unique opportunity to significantly accelerate the potential we see in skin care.”

Naturium

was launched in 2019 by Los Angeles based brand accelerator, The Center. In 2020, Susan Yara joined as a founder, and the female-founded growth equity firm, Prelude Growth Partners, presented a minority investment in 2021.

“We have remained disciplined in pursuing strategic extensions that can leverage our strengths and bring complementary capabilities to e.l.f. Beauty,” continues 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,” says Yara. “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 skin care accessible for all.”

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