All the Beauty M&A Deals of 2024

Here is a list of all the beauty acquisitions and investments so far in 2024:

April

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Monogram Capital Partners took a majority stake in beauty developer Tru Fragrance & Beauty, whose portfolio includes brands Le Monde Gourmand, Undone Beauty and Lake & Skye, as well as licensed fragrance ranges like Yellowstone — based on the Paramount Studios show of the same name — and American Eagle’s private label fragrances. Terms of the deal were not disclosed.

Grown Alchemist changed ownership. The Australian skin care brand’s majority stake was sold by L’Occitane Group to André Hoffman, the group’s former vice chairman and former chief executive officer, who remains a board member. Anna Teal, Grown Alchemist CEO, is now a minority shareholder. The transaction was priced at 28 million euros.

Fable Investments, Natura & Co.’s venture capital fund, has taken an undisclosed stake in Eadem.

Clariant, a sustainability-focused specialty chemical company, completed the acquisition of Lucas Meyer Cosmetics, for an enterprise value of $810 million.

March

Natural, refillable, by-subscription skin care and hygiene brand 900.care raised 21 million euros. The funding round was led by Lombard Odier Investment Managers, alongside 900.care historic investors White Star Capital, Swen Blue Ocean and Founders Future.

Allies of Skin, the Singapore-based skin care brand, raised $20 million from Meaningful Partners.

Caudalie founders Mathilde and Bertrand Thomas invested 1.5 million euros in natural acne care brand Skin and Out.

February

Advent International acquired a majority stake in Skala Cosméticos, a vegan hair care brand based in Brazil. The funding came from Advent’s managed funds, LAPEF VII, dedicated to the region, where consumer and retail companies comprise around 30 percent of Advent’s investments.

French luxury skin care brand Cible Skin received significant minority investment from Verlinvest.

Ulta Beauty’s digital innovation fund Prisma invested in Myavana, a beauty-tech business that uses AI hair care technology.

January

Manzanita Capital acquired a majority stake in the Brooklyn-based fragrance brand D.S. & Durga.

Yellow Wood Partners added ChapStick to its growing consumer brand portfolio. The Boston-based private equity firm paid consumer health company Haleon $430 million for the lip balm brand, which dates back to the 1880s.

Australian SPF-based skin care brand Ultra Violette received a $15 million AUD minority investment from U.S. consumer growth equity firm Aria Growth Partners.

Bridgepoint acquired RoC Skincare. The undisclosed investment was made through Bridgepoint Europe VII, Bridgepoint’s fund centered on investing in mid-market growth businesses.

Compass Diversified acquired a majority stake in plant-derived feminine care brand The Honey Pot Company for an enterprise value of $380 million.

Spanish beauty and fashion company Puig has acquired a majority stake in Dr. Barbara Sturm.

L’Oréal acquired the outstanding shares it does not already own of Gjosa, the Swiss water fractioning technology company.

Acupuncture company Wthn has closed a $5 million Series A led by L Catterton with participation from Jesse Draper’s Halogen Ventures and angel investors.

Fromm International was acquired by Firelight Capital Partners in the firm’s first beauty deal.

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