Why e.l.f. Beauty Stock Is Soaring Today
Portfolio Pulse from Ryan Gustafson
e.l.f. Beauty, Inc. (NYSE:ELF) has announced an agreement to acquire skin care brand Naturium for $355 million in cash and stock. The acquisition is expected to double e.l.f. Beauty's presence in skin care to approximately 18% of retail sales. Naturium has seen net sales grow at an approximately +80% CAGR over the last two years, with approximately $90 million of net sales expected this year. The transaction is expected to close around September 30, 2023.
August 29, 2023 | 6:21 pm
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POSITIVE IMPACT
e.l.f. Beauty's acquisition of Naturium is expected to significantly boost its presence in the skin care market. The company's stock is likely to be positively impacted by this news.
The acquisition of Naturium, a fast-growing skin care brand, is a strategic move by e.l.f. Beauty to expand its presence in the skin care market. This is likely to boost the company's revenues and profitability, which could positively impact its stock price.
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