Shiseido Americas is selling cosmetics brands, BareMinerals, Buxom, and Laura Mercier to AI Beauty Holdings Ltd, a newly-formed affiliate of private equity investment firm, Advent International. The terms of the deal were not disclosed.
Upon completion of the transaction, Pascal Houdayer, the former chief executive of NAOS (Bioderma, Esthederm, Etat Pur) will serve as CEO of the standalone business.
Launched in 1995, BareMinerals is a leader in mineral-based cosmetics; Buxom, created in 2007, is a colour cosmetics brand ranked among the top five US brands across various lip categories. Prestige makeup brand Laura Mercier was founded in 1996.
“We are strong believers in the BareMinerals, Buxom, and Laura Mercier brands,” said Tricia Glynn, a managing director at Advent. “They are clear leaders in prestige beauty and are widely recognised for their quality, authenticity, and innovation, with differentiated products and devoted customers.”
The Japanese beauty conglomerate is selling its shampoo and affordable skin care business for $1.5 billion as it shifts focus to high-end skin products.