Advent International to Acquire bareMinerals, BUXOM, and Laura Mercier from Shiseido Americas for $700m

Advent International announced the signing of a definitive agreement with Shiseido Americas Corporation, a subsidiary of Shiseido Company, Limited, under which a newly formed affiliate of Advent, AI Beauty Holdings, will acquire three of Shiseido Americas’ iconic cosmetics brands, bareMinerals, BUXOM, and Laura Mercier.

Upon completion of the transaction, Pascal Houdayer, who has 30 years of senior management experience in the beauty industry, will serve as Chief Executive Officer of the standalone business. Advent Operating Partner Janet Gurwitch, a distinguished beauty industry investor and founder and former CEO of Laura Mercier, advised Advent on the transaction and will continue to advise the firm and the new company.

Launched in 1995, bareMinerals is the leader in mineral-based cosmetics and is considered the creator of “clean beauty” and “makeup so pure and clean you can sleep in it.” BUXOM, created in 2007, is a color cosmetics brand focused on “going big, being bold, and feeling sexy.” It is ranked among the top five U.S. brands across various lip categories. Prestige makeup brand Laura Mercier was founded in 1996 and pioneered the natural, “flawless face” category.

“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.”

“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,” said Ron Gee, President and Chief Executive Officer of Shiseido Americas and Global M&A Leader. “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.”

Pascal Houdayer, a Seasoned Executive in the Beauty Industry

Pascal Houdayer has three decades of experience leading beauty and personal care businesses across both developed and emerging markets. He previously served as Chief Executive Officer of NAOS (Bioderma, Esthederm, Etat Pur), a global leader in dermo-cosmetics that develops innovative skin care and personal care products, and as an Executive Vice President and member of the Management Board at Henkel, where he was responsible for the Beauty Care Division, after leading the Asia-Pacific region, Digital, New Business Development, and the global Home Care business. In 2017, he led Henkel’s carve-out of Shiseido’s North American Hair Professional business, including the Joico and Zotos brands. Prior to that, Pascal worked for 19 years at Procter & Gamble holding various international management positions in the United States, Europe, and Africa. He most recently served as President and Founder of stratosPHere, a global private equity senior advisory and consulting firm.

“I’m honored to be part of the team that will guide the future of bareMinerals, BUXOM, and Laura Mercier,” said Pascal Houdayer. “We believe these brands have significant runway for growth, particularly as we see the large and growing color cosmetics market benefitting from secular tailwinds. I look forward to helping expand these brands across new products, channels, and regions, while enabling the new company to realize its full potential.”

Source: Business Wire

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