On Monday, Anglo-Dutch company Unilever announced it has agreed to acquire cosmetics firm Carver Korea for 2.27 billion euros (2 billion pounds) from company’s founder, Goldman Sachs and Bain Capital.
The acquisition will help it expand its personal care and beauty care offerings.
Unilever said Carver was the fastest-growing skincare business in South Korea, through sales of its A.H.C brand, whose range includes toners, “Eye Cream for Face”, along with moisturizers, essences, sun protection and masks.
As per a source familiar with the matter at hand, Goldman Sachs and Bain had jointly purchased a roughly 60% stake in Carver for around $500 million in 2016.
When asked to respond to requests for comment, Goldman Sachs, Carver Korea, and Bain Capital were not available for immediate comment.
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