Deals
Unilever Bets $2.7 Billion on South Korean Cosmetics Boom
- Goldman, Bain to sell stakes they bought in Carver last year
- Anglo-Dutch company expands in fourth-biggest skincare market
This article is for subscribers only.
Unilever agreed to pay 2.27 billion euros ($2.7 billion) for one of South Korea’s biggest makers of beauty products, seeking a larger slice of a booming business fueled by its links to the country’s pop stars and TV actors.
Unilever plans to buy Carver Korea Co., maker of AHC skincare products, from shareholders including Goldman Sachs Group Inc. and Bain Capital Private Equity. It’s the biggest acquisition yet for the Anglo-Dutch company in the world’s fourth-largest skincare market, according to data compiled by Bloomberg.