Helen of Troy has entered into an agreement to acquire omnichannel nail brand Olive & June for US$225m.
Founded as a Beverly Hills salon in 2013, with an at-home system launched in 2019, Olive & June plays across all nail categories.
This includes lacquer and gel-polish, press-on nails, tools and care treatments.
The Texas, US-based consumer products company said it will add value to Olive & June.
Olive & June, meanwhile, is expected to accelerate profitable growth for Helen of Troy, helping to further diversify its product offering.
The Curlsmith and Drybar owner intends for Olive & June to operate in a standalone but supported model.
It added the brand would continue to operate as it is today, except in areas where it believes it can accelerate Olive & June’s momentum.
“We believe Olive & June is an excellent fit with Helen of Troy both strategically and financially,” said Helen of Troy CEO Noel M Geoffroy.
“Olive & June’s innovation-driven performance, highly relevant vision of democratising nail care for everyone, award-winning products, and unique consumer engagement model are impressive and inspiring.
“We see significant opportunities to build on its strengths in consumer obsession and breakthrough commercial and product innovation, in addition to helping expand the brand’s availability with increased distribution.”
Sarah Gibson Tuttle, founder and CEO of Olive & June, added: “When I started Olive & June, the mission was simple: to make salon-quality nails accessible to everyone, everywhere.
“Thanks to our passionate team and loyal community, we have achieved incredible milestones – teaching millions how to do their nails at-home and redefining what is possible in beauty.
“Now, as we join the Helen of Troy family, a company known for elevating everyday experiences with innovative consumer products, I could not be more thrilled to lead this next chapter of growth for the brand.”
Tuttle continued: “I have been deeply impressed by Noel’s visionary leadership and look forward to partnering with her and the entire Helen of Troy team.
“Together, we will continue to innovate, inspire and deliver on our promise to be the go-to at-home nail solution for everyone, everywhere.”
The acquisition is expected to close before calendar year end 2024.
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