Unilever making up to S.Korean skincare company

It means that amid the tension of THAAD, domestic beauty brands have taken a direct hit, and beauty brands with technical know-how and specialty products are becoming case studies and showing off their potential.

Unilever has plans to grow its personal portfolio.

Unilever has agreed to buy cosmetics firm Carver Korea for €2.27 billion from Goldman Sachs, Bain Capital and the company's founder as it expands its beauty and personal care business.

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Meanwhile, both Unilever Korea and Carver Korea declined to elaborate on the deal, or how the latter will be managed in the future.

The Anglo-Dutch behemoth said Carver was "an impressive business" and highlighted the deal will boost its profile across North Asia, which is now the largest market in the world for skincare products.

Carver Korea was established in 1999 as a firm supplying exclusively to private beauty salons.

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"Unilever said that Carver's 2016 sales were 321 million euros ($381 million) with core profit of 137 million euros".

The range of products now includes its hero line "Eye Cream for Face", along with essences, toners, moisturisers, masks and sun protection. The company's main brand is AHC, and it also sell whitening products. The €2.27-billion (£2 billion) acquisition comes as the consumer goods giant looks to secure a stronger foothold in South Korea's skincare market. "That would have valued the whole company at $833 million, less than a third of what Unilever is paying, but Carver's net profit almost quadrupled previous year to $117 million, from $32 million in 2015, public filings show", they write.

"This has been a great opportunity for us to partner with a leading Korean company in an exciting segment of the cosmetics space and to help support its brand, operations and growth around the world", Bain Capital Private Equity managing director Ed Han said. "Unilever is seeking to have new growth engines by acquiring Sir Kensington's, famous for its vegan mayonnaise, in April and organic tea company Pukka in September", said Oh Lina, an analyst at eBest Securities.

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