Press release
Helen of Troy Limited Announces Agreement to Acquire Olive & June, LLC
Acquires fast-growing, award-winning nail care category innovator to its portfolio of leading brands for a total purchase price of $240 million, including a
About this update from Helen Of Troy Limited
[{"type":"text","content":"\n\nAcquires fast-growing, award-winning nail care category innovator to its portfolio of leading brands for a total purchase price of $240 million, including a $15 million earnout; implies a multiple of less than 11x estimated calendar year 2025 adjusted EBITDA(2), before synergies\n\n\n\nAdds a high-margin, complementary Beauty consumables business that is expected to be immediately accretive to Helen of Troy’s revenue growth rate, gross profit margin, adjusted EBITDA margin(3), adjusted diluted EPS growth rate(1) and free cash flow conversion(4)\n\n\n\nPlans to employ a stand-alone but supported operating model that retains an experienced and passionate management team, including Olive & June Founder / CEO, Sarah Gibson Tuttle, and leverages Helen of Troy’s complementary capabilities and scale to accelerate Olive & June’s growth\n\n\n\nIntends to update its outlook for fiscal 2025 to include the incremental impact of Olive & June in conjunction with the third quarter earnings release on January 9, 2025\n\n\n\nThe Company will hold a conference call at 8:30 a.m. ET on Friday, November 22, 2024\n\n\n\n EL PASO, Texas--(BUSINESS WIRE)--\nHelen of Troy Limited (NASDAQ: HELE), designer, developer, and worldwide marketer of branded consumer home, outdoor, beauty, and wellness products, today announced that it 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 trailblazing the DIY nail revolution. Within the multi-billion-dollar beauty industry, Olive & June plays across all nail care categories: polish, artificial, 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 drives brand loyalty and social media engagement well above the category averages.\n\n\nThe Olive & June acquisition is an excellent, complementary fit with Helen of Troy’s strategic goal of Continuing Better Together M&A. 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 further diversify its product offerings. As the Company continues to focus on elevating the health and performance of its core b...