After 18 consecutive quarters of growth among its brands, E.l.f. Beauty is expanding its portfolio.
The parent company of E.l.f. Cosmetics, W3ll People and Keys Soulcare has signed an agreement to acquire Naturium for $355 million, it announced Tuesday. It’s part of a broader strategy to give the company cachet in skin, which could comprise 18 percent of retail sales after the sale is completed, which is expected to close around Sept. 30.
The brand is currently sold at Target, Amazon and Naturium.com, among other partners globally. It boasts an average price of $18 per product, which include its hero body wash, vitamin C complex serum and moisturizer with SPF 50.
The acquisition confirms an earlier WWD report that Naturium was mulling deal options. According to a statement from E.l.f. Beauty, Naturium is slated to reach $90 million in net sales this year, and the company expects Naturium to add $48 million in net sales for its fiscal 2024 year
“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, in a statement. “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 founded by Susan Yara in 2019 under the Los Angeles-based brand accelerator The Center. In 2021, The Center took an investment from Prelude Growth Partners.
“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, in a statement. “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.”