Unilever announced today that it has agreed to acquire Carver Korea — a leading skincare business in North Asia.

The company is purchasing Carver Korea from , for EURO2.27bn, from Bain Capital Private Equity and Goldman Sachs, for 2.27 billion euros, which is $2.71 billion in U.S. dollars. 

Building on its origins as an aesthetics company supplying professional products to beauty salons, Carver has become the fastest-growing skincare business in South Korea, through sales of its brand, AHC. 

AHC’s portfolio is focused on two high-demand consumer spaces: age management, and hydration and nourishment. The range includes the hero product: ‘Eye Cream for Face’, along with essences, toners, moisturisers, masks, and sun protection.

Alan Jope, Unilever President Personal Care, states,: “We are delighted to be acquiring Carver Korea. It is an impressive business that is completely aligned to our Personal Care strategy. It will significantly strengthen our position in North Asia, the largest skincare market in the world; and will complement our existing portfolio, enabling us to offer luxury skincare products at attainable price points. AHC has been strongly gaining popularity thanks to its efficacious, innovative and premium products; and it therefore offers great opportunities for growth.”

Ed Han, a Managing Director for Bain Capital Private Equity, adds, “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. Unilever is a strong partner to help the company in its next phase of growth and development.”