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The Hague, Netherlands – Anglo-Dutch food and consumer goods giant Unilever said Monday that South Korea’s leading cosmetic and skin care company is buying በ 2.27 billion ($ 2.69 billion) to boost its presence in Asia.
“The purchase will greatly strengthen our position in North Asia,” said Alan Jopp, president of Universal Care, a “fast-growing skin care business in South Korea.”
The Rotterdam-based Unilever is buying the company from Bain Capital Private Equity and Goldman Sachs.
South Korea is the world’s fourth-largest skincare market, according to Unilever.
Adding Carver to its wider family brands, including beauty and personal care products such as Dove, Ax and Sunsilk, “complements our existing portfolio, enabling us to offer luxury skincare products at an affordable price,” says Jope.
Carver products include the popular AHC brand, which offers a variety of eye creams and moisturizers as well as anti-aging creams.
Unilever, which employs about 169,000 people worldwide, has more than 400 home brands, including Norr soup, Lipton, Magnum and Marmite.
It announced plans for a 3.5 3.5 billion restructuring in March, declining the margarine segment.
Source: AFP AFP
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