The acquisition of W3LL PEOPLE will help e.l.f. Beauty to gain growth in the fast-growing clean beauty market.
e.l.f. Beauty, a US cosmetics and skin care products manufacturer, has entered into a $27 million all-cash deal to acquire W3LL PEOPLE, a US clean beauty company. The company will take advantage of its operational and marketing capabilities and customer relationships to promote and strengthen W3LL PEOPLE’s brand. As its first strategic extension, it is happy to bring W3LL PEOPLE under its umbrella, said Chairman and CEO of e.l.f. Beauty, Tarang Amin. Given strong growth rates and consumer sentiment, clean beauty is a strategically important segment, added Amin.
W3LL PEOPLE has a long history of credibility and expertise in clean beauty that works. Its market opportunity and brand values closely align with e.l.f., Amin continued, and e.l.f. believes that there are several synergies to be realized on both the distribution and cost fronts.
“We have a remarkable history of breaking beauty boundaries, and the acquisition by e.l.f. is an incredible milestone in W3LL PEOPLE’s effort to make clean beauty accessible. Our company feels tremendously grateful for the success of the W3LL PEOPLE brand and the extraordinary team who helped to build it,” said Co-founder of W3LL PEOPLE, James Walker.
W3LL PEOPLE shares the e.l.f. mission to make the best of beauty accessible
“e.l.f. has been transparent about its desire to pursue strategic extensions that can leverage our strengths and bring new capabilities to our company, and e.l.f. has been disciplined in the process. W3LL PEOPLE shares our company’s mission to make the best of beauty accessible and is rooted in a passionate and deep understanding of clean beauty. Our company believes W3LL PEOPLE’s high-quality product line and 12 years of clean beauty experience, combined with our multiple strengths from operations to marketing, will be attractive to e.l.f. retail partners – which include Target, a longest-standing e.l.f. customer,” said Amin.
W3LL PEOPLE’s exclusive financial advisor in the acquisition transaction was William Hood & Company, LLC.