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)
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