Helen of Troy Agrees to Acquire Olive & June

Dow Jones11-22

By Stephen Nakrosis

Helen of Troy said it agreed to acquire nail care brand Olive & June for a total purchase price of $240 million.

Helen of Troy said Thursday the acquisition is expected to be immediately accretive to its revenue growth rate, gross profit margin, adjusted diluted earnings-per- share growth rate, and free cash flow conversion.

The company said Olive & June plays across all nail care categories, including polish, treatment and care. Helen of Troy said it expects to use a standalone but supported operating model that includes Sarah Gibson Tuttle, Olive & June's founder and chief executive.

The total purchase consideration is expected to be $225 million in cash, along with a $15 million earnout subject to performance over three years, the company said.

The deal is expected to close before the end of this year.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

November 21, 2024 16:38 ET (21:38 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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