Helen of Troy Pays $240m For Olive & June, Guthy-Renker Partners With Paris Hilton; Beauty Biz Roundup

Helen of Troy Ltd., a firm known for designing, marketing and distributing beauty tools, personal care, housewares and health products, is purchasing Olive & June do-it-yourself manicure/pedicure brand for $240m, including a $15m earnout. In a 21 November release, the El Paso, Texas-based firm says the purchase price implies a multiple of less than 11x estimated calendar year 2025 adjusted earnings before interest, taxes, depreciation and amortization. The deal will add a “high-margin, complementary beauty consumables business that is expected to be immediately accretive of Helen of Troy’s revenue growth rate, gross profit margin, adjusted EBITDA margin, adjusted diluted EPS growth rate and free cash flower conversion,” the firm says. Helen of Troy plans to utilize a “stand-alone but supported operating model” retaining Beverly Hills, Calif.-based Olive & June’s “experienced and passionate” operating team, including founder/CEO Sarah Gibson Tuttle.

“Helen of Troy believes it can add value to Olive & June and use its scalable operating platform, while Olive & June can accelerate profitable growth for Helen of Troy...