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Valeant Sells Skincare Brands to L'Oreal and Dendreon Pharma to China's Sanpower for $2.1B

Valeant Sells Skincare Brands to L'Oreal and Dendreon Pharma to China's Sanpower for $2.1B

WAVE OF BEAUTY AND PERSONAL CARE SECTOR EXITS The move follows a recent global wave of deals and consolidation in the beauty and personal care market. This week, New York-based Coty Inc. (NYSE: COTY) said it agreed to acquire a 60% stake of online peer-to-peer social selling beauty platform Younique for $600 million in cash. Younique’s founders, siblings Derek Maxfield and Melanie Huscroft, will own the remaining 40%. Last November, Coty acquired London-based high-end hairstyling brand GHD (Good Hair Day) from private equity firm Lion Capital LLP for $510 million. In September, Los Angeles-based beauty and consumer goods startup The Honest Company, co-founded by actress Jessica Alba and known for its eco-friendly products, was said to be seeking an exit, including a sale of the company. In July, L’Oréal SA (EPA: OR), the world’s leading beauty and cosmetics company, controlled by the family of Liliane Bettencourt, the wealthiest person in France and the wealthiest woman in the world, agreed to acquire IT Cosmetics, a top-selling prestige makeup and skincare brand in the United States, for $1.2 billion in cash. A week earlier, Bain Capital Private Equity and Goldman Sachs (NYSE: GS) agreed to acquire a majority stake in Carver Korea, a leading K-beauty cosmetics company, for over $300 million. Likewise, consumer products giant Unilever (LSE: ULVR) agreed to acquire men’s personal grooming startup Dollar Shave Club (DSC), for $1 billion. A few days earlier in the summer, GHD’s rival Tangle Teezer, a British manufacturer of detangling hairbrushes founded and owned by hair colorist Shaun Pulfrey, was said to have hired investment bank Robert W. Baird & Co. to shop the company for £200 million. In June, billionaire Ronald Perelman‘s Revlon Inc. (NYSE: REV) agreed to acquire Elizabeth Arden Inc. (NASDAQ: RDEN), a legendary global prestige beauty products company with a portfolio of beauty brands sold in over 120 countries, in a deal valued at $870 million. Two weeks earlier, Johnson & Johnson (NYSE: JNJ) agreed to acquire Vogue International LLC, a manufacturer and distributor of salon-heritage hair care and other personal care products, including OGX, FX, Proganix and Maui Moisture, from private equity firm Carlyle Group LP (NASDAQ: CG) and the company’s founder and CEO Todd Christopher, for $3.3 billion. Also in early June, Japanese global cosmetics company Shiseido Co. Ltd. (TYO: 4911) agreed to acquire Gurwitch Products LLC, a Houston, Texas-based marketer of global prestige cosmetics and skincare brands including Laura Mercier and RéVive, from Alticor Inc., the owner of Amway. In May, private equity firm Clayton, Dubilier & Rice agreed to acquire High Ridge Brands Co., which owns a portfolio of personal care brands, from private equity firm Brynwood Partners, for $415 million. In April, Fosun International (HKSE: 0656), one of China’s largest investment firms chaired by billionaire Guo Guangchang, agreed to acquire Israeli cosmetics company Ahava Dead Sea Labs for $77 million. In February 2016, Canadian cosmetics and skincare company Groupe Marcelle acquired Montreal-based Lise Watier Cosmétiques, through an $18 million investment by Caisse de dépôt et placement du Québec (CDPQ),becoming the largest Canadian company in the beauty industry.]]>

Permira to Acquire German Fashion Retailer Schustermann & Borenstein from Ardian

Permira to Acquire German Fashion Retailer Schustermann & Borenstein from Ardian

Permira, together with Cinven and Mid Europa, recently acquired Poland-based Allegro Group from Naspers Ltd (JSE: NPN.SJ) (LSE: NPSN) for $3.25 billion, as previously reported by ExitHub. The consumer technology industry is a key area of focus for Permira which has significant experience in backing global brands, such as Hugo Boss, Valentino and Dr. Martens, and supporting the expansion of leading global technology companies like Informatica, TeamViewer, P&I and Magento. Wolfgang Pietzsch, Managing Director Mid Cap Buyout at Ardian, added, “We are very happy to have supported Schustermann & Borenstein and its founding families for more than four years. Significant growth has been achieved through a multitude of avenues in the company’s stationary and online business both organically, such as a new store opening in Vienna and the internationalization of the online business, as well as through an acquisition in Switzerland.” The deal, which is subject to regulatory approvals, is expected to close in the fourth quarter of 2016. In the past 30 years, the Permira funds have made over 200 private equity investments in five key sectors: Consumer, Financial Services, Healthcare, Industrials and Technology. Permira employs over 200 people including 130 investment professionals in 14 offices across North America, Europe and Asia. Founded in 1985, and operated under the Schroder Ventures brand until 1997, Permira advises funds with a total committed capital of €31 billion. Ardian, founded in 1996 and led by Dominique Senequier, is an independent private investment company with $60 billion in assets managed or advised in Europe, North America and Asia.]]>