As companies merge, investments from new owners often fuel innovation. These new deals and partnerships are contributing to growth, overall—and helping the beauty and packaging industries prosper.

Whether you’re a brand owner, packaging supplier, or ingredient manufacturer—or work with these companies—keeping up with the latest mergers and acquisitions in the beauty industry can be a challenge. It’s also confusing to remember which beauty brands each company owns. We’re here to help. 

Keep up with ‘who-owns-who’ by bookmarking this story to check often for updates.

Related: A Guide to All the Mergers & Acquisitions in the Beauty Industry in 2024

Beauty Brands M&A Activity

January

Tru Fragrance Gains Lake & Skye

Tru Fragrance & Beauty has acquired Lake & Skye, a mission-driven fragrance and wellness brand that debuted in 2015. Increased funding will enable Lake & Sky to focus on fragrance innovation. After the acquisition is finalized, Courtney Somer, CEO and founder of Lake & Sky, will become a minority equity owner and Chief Creative Officer.

Tru Fragrance made a minority investment in the brand in 2018. 

AXNY Group Acquires Urban Skin Rx

Urban Skin Rx, a pioneering clinical skincare brand catering to diverse skin tones, has been acquired by the American Exchange Group (AXNY Group).  This expansion aligns with AXNY’s strategy of delivering brands and products that resonate with a diverse, global consumer base.

Urban Skin Rx joins NatureWell, TXTUR, Found Active, and Indie Lee.

SKKY Partners Invests in 111Skin

Private equity firm SKKY Partners, co-founded by Jay Sammons and Kim Kardashian, has made a minority investment in 111Skin, a clinically inspired skincare brand. SKKY will support 111Skin in strengthening its direct-to-consumer business and expanding its customer base in North America and Asia.

11Skin’s co-founders, Eva and Dr. Yannis Alexandrides, will retain majority ownership and continue to lead the company, along with CEO Vanessa Goddevrind.

February

L’Oreal Gains Small Share of Jacquemus

L’Oréal Groupe has become a minority investor in the French fashion label Jacquemus. The companies have also entered an exclusive long-term beauty partnership. 

Jacquemus will join L’Oreal Luxe division alongside YSL, Prada, Mugler, Valentino brands, and others. 

Sky Marketing Corp. Acquires Prima

Prima, a science-backed, whole body wellness brand, was acquired by Austin-based Sky Marketing Corporation. Prima’s products include organic hemp CBD and functional botanicals to combat stress and pain. 

Sky Marketing Corporation’s Portfolio Includes Edibles, Drinks, and Now Skin and Body Care. 

10Beauty Acquires Clockwork

10Beauty, a pioneer in Intelligent Beauty, has acquired Clockwork, creator of the world’s first AI-powered nail painting robot. This acquisition strengthens 10Beauty’s position in automated beauty services as it prepares to launch its complete manicure system this summer.

March

Ushopal Acquires Payot

Ushopal fully acquired French Skincare Icon Payot to solidify its position as the first China-based luxury beauty group to emerge on the global stage. Payot offers a variety of skincare products with a large presence in spas in over 70 countries. 

Ushopal also acquired Argentum Apothecary in 2022 and invested in the French niche fragrance house Juliette Has a Gun. 

Unilever Invests in Inde Wild

Sycamore Partners Acquires Walgreens Boots Alliance

Interparfums SA Acquires Maison Goutal

May

E.l.f. Acquires Rhode Beauty

After recent speculation, Hailey Bieber has sold her beauty brand, rhode, to e.l.f. Beauty.

Bieber will remain closely involved in the brand she co-founded, as her new title will be chief creative officer and head of innovation. The deal is estimated to be worth $1 billion.

June

Unilever Acquires Dr. Squatch

Unilever has signed an agreement to acquire personal care brand Dr. Squatch from growth equity firm Summit Partners. This acquisition expands Unilever’s portfolio in premium and high-growth spaces.

Suppliers M&A Activity

February

Veresence Acquired by Two Investment Firms

Stirling Square Capital Partners agreed to sell 100% of Verescene to investment holding companies Movendo Capital and Draycott. The two firms aim to strengthen Verescence while maximizing growth and sustainability. 

 May

Novvia Group Acquires GHI

Garrett Hewitt International has been acquired by Novvia Group, a global rigid container and life sciences packaging distributor. GHI owner, Jason Clerke, will continue to run the business and manage day-to-day operations.

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