Unilever to acquire personal care company Carver Korea

LONDON and ROTTERDAM — Unilever has plans to grow its personal portfolio. The company on Monday announced its acquisition of leading skin care brand Carver Korea from Goldman Sachs and Bain Private Equity for $2.68 billion (2.27 euro).

Carver’s leading brand, AHC, is focused on age management and skin hydration and nourishment, with a line of products that includes essences, toners, moisturizers, masks and sun protection products. The company’s origins are as a professional products supplier for beauty salons.

“We are delighted to be acquiring Carver Korea. It is an impressive business that is completely aligned to our personal care strategy,” Unilever personal care president Alan Jope said. “It will significantly strengthen our position in North Asia, the largest skincare market in the world; and will complement our existing portfolio, enabling us to offer luxury skincare products at attainable price points. AHC has been strongly gaining popularity thanks to its efficacious, innovative and premium products; and it therefore offers great opportunities for growth."

Carver’s position in Korean beauty — particularly given South Korea is the fourth largest skin care market in the world — will bolster Unilever’s position within Asia’s beauty market and the global personal care category, the company said.

“This has been a great opportunity for us to partner with a leading Korean company in an exciting segment of the cosmetics space and to help support its brand, operations and growth around the world,” Bain Capital Private Equity managing director Ed Han said. “Unilever is a strong partner to help the company in its next phase of growth and development."