Seoul/London — Unilever has agreed to pay €2.27bn to buy fast-growing cosmetics company Carver Korea in its latest move to build a global beauty business. The purchase from Goldman Sachs, Bain Capital and Carver’s founder follows a string of smaller skincare and cosmetics deals as the Anglo-Dutch company pivots away from food. The deal announced on Monday gives Unilever what it said was the fastest-growing skincare business in South Korea through its AHC brand of anti-ageing creams, moisturisers and other skin products. Carver also provided a strong foothold in north Asia, the world’s largest skincare market, Unilever said. High Margins "Unilever continues to build a portfolio of niche brands in premium beauty to capture opportunities in high-margin dynamic categories," said Ildiko Szalai, analyst at Euromonitor International, which says the South Korean beauty and personal care market has grown faster than the global average over the past five years. Korean beauty brands are in hug...
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