Best of BoF 2024: Beauty M&A Trends
This year, the beauty industry saw some interesting moves in the world of acquisitions and mergers. While there was excitement around brands like Kosas, Rare Beauty, and Makeup by Mario exploring potential sales, the actual number of deals was lower than expected.
One of the most significant deals of the year was Puig’s acquisition of Dr. Barbara Sturm, a luxury skincare brand. This move helped Puig, known for its fragrances and cosmetics, to diversify its portfolio. Another notable acquisition was the purchase of Summer Fridays by TSG Consumer Partners, and Kiko Milano by L Catterton. Olive + June, known for its nail care products, was acquired by Helen of Troy, while Révive, a high-end skincare line, was bought by SâYoung Group.
It seems that in 2024, the market was more favorable for buyers, with many brands up for grabs. Large conglomerates like LâOréal and Estée Lauder, who already have extensive portfolios, were selective in their choices. They seemed to be looking for brands with proven potential and a unique proposition.
The beauty brands that did find new homes in 2024 highlighted where the industry sees growth opportunities. Skincare remains a top contender, along with companies that offer quality products at competitive prices, like Kiko Milano, or solutions that make life easier, such as Olive + June’s DIY nail care kits.
Looking ahead to 2025, the beauty industry is poised for more changes and potentially more acquisitions. With so many brands and products in the market, it will be interesting to see which ones catch the eye of potential buyers and how the industry continues to evolve.
