Shiseido has agreed to sell bareMinerals, Laura Mercier and Buxom to Advent, a private equity firm.
- Headquarters: Boston, MA
- Founder: Peter Brooke
- Founded: 1984
- adventinternational.com
Advent will purchase the three cosmetics brands for $700 million; that's well-below the $2.1 billion that Shiseido paid for them in 2010 and 2016. It's all part of Shiseido's strategy to focus on high-end cosmetics, especially in Asia. During the past year, Shiseido also sold its personal care business to CVC, a Luxembourg-based PE firm. In that span, Shiseido also ended its licensing agreement with Dolce & Gabanna.
The sale of several color cosmetics business to Advent follows news that Shiseido's operating loss in North America tripled to more than $200 million last year, while revenue fell 24%,
This sale closes the door on an acquisition that's had analysts scratching their heads for years. In 2010, Shiseido paid $1.9 billion for Bare Escentuals and Buxom. The company had a difficult time integrating the brands into its overall strategy. Despite the sale, Shiseido still sells Drunk Elephant and Nars in the US.
The sale of several color cosmetics business to Advent follows news that Shiseido's operating loss in North America tripled to more than $200 million last year, while revenue fell 24%,
This sale closes the door on an acquisition that's had analysts scratching their heads for years. In 2010, Shiseido paid $1.9 billion for Bare Escentuals and Buxom. The company had a difficult time integrating the brands into its overall strategy. Despite the sale, Shiseido still sells Drunk Elephant and Nars in the US.
