11.25.24
Helen of Troy Limited, designer, developer, and worldwide marketer of branded consumer home, outdoor, beauty, and wellness products, has entered into a definitive merger agreement to acquire the business of Olive & June, LLC.
Olive & June, founded in 2013, is an innovative, omni-channel nail care brand. Within the multi-billion-dollar beauty industry, Olive & June plays across all nail care categories: polish, artificial nails, tools, treatment, and care, delivering a salon-quality experience at home.
Its consumer solutions-driven product innovation and digital-first model to engage and educate consumers drive brand loyalty and social media engagement well above the category averages.
Sarah Gibson Tuttle, founder and CEO of Olive & June, said,
“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.”
Helen of Troy believes it can add value to Olive & June and use its scalable operating platform, while Olive & June can accelerate profitable growth for Helen of Troy by helping to diversify its product offerings.
As Helen of Troy continues to focus on elevating the health and performance of its core brand portfolio, it intends for Olive & June to operate in a stand-alone but supported model, with the brand continuing to operate largely as it is operated today.
Noel M. Geoffroy, Helen of Troy Chief Executive Officer, stated,
“We could not be more excited to add Olive & June to our portfolio of leading brands and we welcome its passionate associates and visionary leadership team to the Helen of Troy family. We believe Olive & June is an excellent fit with Helen of Troy both strategically and financially… 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.”
The acquisition is expected to be immediately accretive to Helen of Troy’s revenue growth rate, gross profit margin, adjusted EBITDA margin, adjusted diluted EPS growth rate, and free cash flow conversion.
The acquisition is expected to close before calendar year end 2024, subject to customary closing conditions, including regulatory approvals.
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Olive & June, founded in 2013, is an innovative, omni-channel nail care brand. Within the multi-billion-dollar beauty industry, Olive & June plays across all nail care categories: polish, artificial nails, tools, treatment, and care, delivering a salon-quality experience at home.
Its consumer solutions-driven product innovation and digital-first model to engage and educate consumers drive brand loyalty and social media engagement well above the category averages.
Sarah Gibson Tuttle, founder and CEO of Olive & June, said,
“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.”
Helen of Troy believes it can add value to Olive & June and use its scalable operating platform, while Olive & June can accelerate profitable growth for Helen of Troy by helping to diversify its product offerings.
As Helen of Troy continues to focus on elevating the health and performance of its core brand portfolio, it intends for Olive & June to operate in a stand-alone but supported model, with the brand continuing to operate largely as it is operated today.
Noel M. Geoffroy, Helen of Troy Chief Executive Officer, stated,
“We could not be more excited to add Olive & June to our portfolio of leading brands and we welcome its passionate associates and visionary leadership team to the Helen of Troy family. We believe Olive & June is an excellent fit with Helen of Troy both strategically and financially… 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.”
The acquisition is expected to be immediately accretive to Helen of Troy’s revenue growth rate, gross profit margin, adjusted EBITDA margin, adjusted diluted EPS growth rate, and free cash flow conversion.
The acquisition is expected to close before calendar year end 2024, subject to customary closing conditions, including regulatory approvals.
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