You are here: Home » International » News » Companies
Business Standard

Unilever buys Korean makeup firm for $2.7 bn

To expands its beauty and personal care business

Reuters  |  Seoul 

Unilever to buy  cosmetics firm Carver Korea for $2.7 billion

has agreed to cosmetics firm for 2.27 billion euros ($2.71 billion) from Goldman Sachs, Bain Capital and the company's founder as it expands its beauty and personal care business.

The Anglo-Dutch company announced the deal on Monday, saying Carver was the fastest-growing skin care business in South Korea, through sales of its A.H.C brand.

said the range includes "Eye Cream for Face", along with essences, toners, moisturisers, masks, and sun protection.

Bain and Goldman Sachs jointly bought a roughly 60 percent majority stake in Carver for around $500 million last year, a source familiar with the matter said on Monday.

Carver Korea, Bain Capital and Goldman Sachs were not available for immediate comment.

($1 = 1,130 won)

($1 = 0.8389 euros)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Mon, September 25 2017. 16:21 IST