THE WHAT? Shiseido Americas has announced the sale of prestige make-up brands bareMinerals, BUXOM and Laura Mercier to Advent International. Terms of the transaction were not disclosed by Advent, although a statement published by Shiseido lists the transfer price as US$700 million.
THE DETAILS Shiseido said it will reinvest the funds into areas crucial for its long-term growth. Upon completion of the transaction, Pascal Houdayer will serve as CEO of the standalone business. Janet Gurwitch, Founder of Laura Mercier, advised Advent on the transaction and will continue to advise the firm and new company.
“We are strong believers in the bareMinerals, BUXOM, and Laura Mercier brands,” said Tricia Glynn, a Managing Director at Advent. “They are clear leaders in prestige beauty and are widely recognized for their quality, authenticity, and innovation, with differentiated products and devoted customers. We are excited to partner with Pascal as CEO of the new company to accelerate the growth of these brands by continuing to develop innovative products, expanding into new categories and geographies, and enhancing digital engagement with customers.”
THE WHY? Under its medium- to long-term strategy, WIN 2023 and Beyond, the J-beauty behemoth is shifting to a new business structure with skin beauty named as its core category.
As Ron Gee, President and Chief Executive Officer of Shiseido Americas and Global M&A Leader, commented, “We have been proud stewards of bareMinerals, BUXOM, and Laura Mercier, and we believe Advent is the right partner to guide these incredible brands into their next chapter. This transaction will infuse bareMinerals, BUXOM, and Laura Mercier with the resources and support needed for the brands and their talented teams to continue to grow.”