Unilever to acquire Paula’s Choice from TA Associates
TA Associates, a global growth private equity firm is to sell Paula’s Choice, a leading digital-led skin care brand, to Unilever, one of the world’s leading suppliers of Beauty & Personal Care, Home Care, and Foods & Refreshment products. Terms of the transaction, which is expected to close in the third quarter of 2021, have not been disclosed.
Paula’s Choice is one of the largest digitally native beauty brands in the world. Founded more than 25 years ago by one of the original beauty influencers, Paula Begoun, Paula’s Choice has grown into a leading global skin care brand with a diversified geographic reach, a methodically curated product offering and a loyal customer base that is supported by a global direct-to consumer (DTC) model. The brand’s mission is to give people the transparency, knowledge and tools to reveal their best selves through highly customisable, personalised skin care routines.
“It has been a privilege to partner with TA, which embraced our unique positioning and helped to further develop our radically truthful skin care brand, backed by science not popular trends,” says Paula Begoun, Founder of Paula’s Choice. “Paula’s Choice has become a leader in the global skin care industry, and I am extremely grateful to TA for making this happen in ways I never thought possible. We look forward to our new partnership with Unilever and the continued growth of Paula’s Choice.”
“We are proud to have played a part in the Paula’s Choice growth story, and are impressed with what CEO Tara Poseley and her team have accomplished, building upon the amazing brand Paula created,” says Jeffrey Barber, a Managing Director at TA. “Paula’s Choice has grown into a leading direct-to-consumer global skin care brand, and we are excited to see what the company can accomplish in partnership with Unilever. We wish the Paula’s Choice team much continued success.”
“We are thrilled that Paula’s Choice will join our Unilever Prestige family,” says Vasiliki Petrou, Unilever EVP and CEO of Prestige. “Paula’s Choice is a true pioneer in the digital space for beauty and has created a mission-based brand rooted in truth and transparency. We can’t wait to introduce the brand and its iconic products to an even bigger audience.”
“Similar to our experience with TA over the past five years, we are confident that Unilever will be an ideal growth partner,” says Tara Poseley, CEO of Paula’s Choice. “Like Paula’s Choice, Unilever is a product- and R&D-driven company, with values centred on empowerment, customer education, inclusion and sustainability. I am thrilled to be part of this next phase of our journey, following the growth we achieved under TA’s ownership and guidance.”
Financo Raymond James (lead), Morgan Stanley & Co LLC and Piper Sandler & Co are serving as financial advisors, and Goodwin Procter is serving as legal counsel to TA.