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Unilever to buy Carver Korea for 2.27 billion euros

Staff Writer |
Unilever said it has agreed to acquire Carver Korea, a Seoul-based maker of toners and moisturizers, for 2.27 billion euros from Bain Capital Private Equity and Goldman Sachs.

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The company expects the acquisition to help it to gain ground in the Korean beauty market, said to be the fourth largest skincare market in the world.

The transaction is subject to customary regulatory approvals.

Carver was founded in 1999 as an aesthetics company supplying professional products to beauty salons.

Through sales of its brand, AHC, the company now has become the fastest-growing skincare business in South Korea, a source of global beauty trends.

AHC portfolio includes age-management, skin-hydration and skin-nourishment products. In 2016, the company delivered sales of 321 million euros and EBITDA of 137 million euros.

The acquisition is expected to strengthen Unilever's expertise in the Asian beauty market, and its Personal Care category globally.

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