M&A Deal Summary

Unilever Acquires Carver Korea

On September 25, 2017, Unilever acquired consumer products company Carver Korea from Bain Capital Private Equity and Goldman Sachs Merchant Banking for 2.3B EUR

Acquisition Highlights
  • This is Unilever’s 20th transaction in the Consumer Products sector.
  • This is Unilever’s 3rd largest (disclosed) transaction.
  • This is Unilever’s 1st transaction in South Korea.

M&A Deal Summary
Date 2017-09-25
Target Carver Korea
Sector Consumer Products
Buyer(s) Unilever
Sellers(s) Bain Capital Private Equity
Goldman Sachs Merchant Banking
Deal Type Add-on Acquisition
Deal Value 2.3B EUR

Target

Carver Korea

Seoul, South Korea
Carver Korea Co. Ltd. is a Korean cosmetics company that owns a number of brands including A.H.C (Aesthetic Hydration Cosmetics), Shara, and Vivito spanning sectors including skincare, make-up and fashion. The company has an established skincare products portfolio of more than 1,000 products which combines beauty with science to compete in some of the most lucrative segments of the cosmetics industry, such as eye creams, essences, and toners. Carver Korea first gained recognition for its quality through its sales at dermatology and skin care beauty salons. Currently, the company’s cosmetic brands are offered to consumers through various channels, including home shopping television networks, retail stores, duty free shops, beauty salons, skincare clinics and Internet commerce.

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Buyer(S) 1

Buyer

Unilever

London, United Kingdom
Category Company
Founded 1894
Sector Consumer Products
Employees148,949
Revenue 50.7B EUR (2020)
DESCRIPTION

Unilever is a multinational consumer goods company. Its products include food, beverages, cleaning goods and personal care products. Unilever was founded in 1894 and is based in London, United Kingdom.

DEAL STATS #
Overall 32 of 45
Sector (Consumer Products) 20 of 29
Type (Add-on Acquisition) 24 of 35
Country (South Korea) 1 of 1
Year (2017) 5 of 9
Size (of disclosed) 3 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-07 Pukka Herbs

Bristol, United Kingdom

Pukka Herbs Ltd. is a provider of organic and ethically sourced ingredients. Pukka Herbs Ltd. was founded in 2001 and is based in Bristol, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-02 Mãe Terra

Osasco, Brazil

Mãe Terra is an organic food company that sources, manufactures, packages and distributes cereals, cookies, snacks and culinary products. Mãe Terra was established in 1979 and is based in Osasco, Brazil.

Buy -

Seller(S) 2

SELLER

Bain Capital Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1984
PE ASSETS 44.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Bain Capital Private Equity (BCPE), is the private equity investment arm of alternative asset management firm, Bain Capital. BCPE targets leveraged buyout and growth capital transactions in a wide variety of industries including information technology, communications, media, healthcare, industrial/manufacturing, retail/consumer, and financial services. Bain Capital is based in Boston with additional offices in New York, London, Mumbai, Hong Kong, Shanghai, Tokyo, and Munich.

DEAL STATS #
Overall 107 of 147
Sector (Consumer Products) 3 of 8
Type (Add-on Acquisition) 30 of 40
Country (South Korea) 1 of 1
Year (2017) 15 of 19
Size (of disclosed) 11 of 44
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-22 RISE Education Cayman

Beijing, China

RISE Education Cayman is a provider of after school English language programs for children aged 3 to 12 years old in China. RISE Education Cayman was founded in 2007 and is based in Beijing, China.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-28 Kioxia

Tokyo, Japan

Kioxia is a provider of non-volatile memory solutions. The products can be found embedded in smartphones, MP3 players, satellite navigation systems, digital still cameras and digital video recorders. KIOXIA also produces a wide range of digital media storage devices such as SDHCTM, SDXCTM, microSDTM, and FlashAirTM wireless memory cards and USB flash drives to meet the growing storage needs of electronic devices. Kioxia was founded in 2017 and is based in Tokyo, Japan.

Buy $18.0B
SELLER

Goldman Sachs Merchant Banking

New York, New York, United States
Category Private Equity Firm
Founded 1986
PE ASSETS 155.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Goldman Sachs Merchant Banking Division is the investment arm of Goldman Sachs. The primary corporate investment group within the Merchant Banking Division is Goldman Sachs' direct investment arm. GS's direct investment arm consists of GS Capital Partners, GS Mezzanine Partners, and GS Growth Partners. GS Capital Partners is the direct corporate equity investment group which seeks LBO, recapitalization, and growth investments to help fund acquisitions, expansions, recapitalizations, restructurings, buyouts, and take privates. GS Capital Partners looks to invest between $50 and $800 million in opportunities in North/South America, Europe, Asia. GS Mezzanine Partners is the junior capital arm of Goldman Sachs. GS Mezzanine looks to invest between $200 million and and $800 million in transactions valued up to $10 billion. Investment proceeds are used to fund leveraged buyouts, expansion financings, recapitalizations, acquisitions, and restructurings. GS Growth looks to invest in growth equity transactions. The unit seeks to commit $20 to $200 million per investment. Other units within GS's merchant banking division include Real Estate, Infrastructure, and Urban Investments. Goldman Sachs Merchant Banking Division is based in New York City.

DEAL STATS #
Overall 76 of 110
Sector (Consumer Products) 3 of 3
Type (Add-on Acquisition) 21 of 37
Country (South Korea) 1 of 1
Year (2017) 7 of 7
Size (of disclosed) 7 of 32
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-03 Syniti

Needham, Massachusetts, United States

Syniti engages in information governance and data stewardship solutions, focusing on helping customers manage one of their most critical assets data. Syniti products and services enable organizations to accelerate growth, gain actionable visibility, and reduce risks. Syniti was founded in 1996 and is based in Needham, Massachusetts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-14 FinanceIt

Toronto, Ontario, Canada

FinanceIt offers a comprehensive suite of tools and technologies designed to simplify complex sales transactions for businesses and their customers. FinanceIt was founded in 2011 and is headquartered in Toronto, Ontario.

Buy -
Mergr

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