Unilever, a supplier of beauty and personal care, home care, and foods and refreshment products, has signed an agreement to acquire Paula’s Choice, a digital-led skin care brand, from TA Associates, a global growth private equity firm.
“We are thrilled that Paula’s Choice will join our Unilever Prestige family,” said Vasiliki Petrou, Unilever EVP and CEO of Prestige. “Paula’s Choice is a true pioneer in the digital space for beauty and has created a mission-based brand rooted in truth and transparency. We can’t wait to introduce the brand and its iconic products to an even bigger audience.”
“It has been a privilege to partner with TA, which embraced our unique positioning and helped to further develop our radically truthful skin care brand, backed by science not popular trends,” said Paula Begoun, founder of Paula’s Choice. “Paula’s Choice has become a leader in the global skin care industry, and I am extremely grateful to TA for making this happen in ways I never thought possible. We look forward to our new partnership with Unilever and the continued growth of Paula’s Choice.”
“Similar to our experience with TA over the past five years, we are confident that Unilever will be an ideal growth partner,” said Tara Poseley, CEO of Paula’s Choice. “Like Paula’s Choice, Unilever is a product- and R&D-driven company, with values centered on empowerment, customer education, inclusion and sustainability. I am thrilled to be part of this next phase of our journey, following the growth we achieved under TA’s ownership and guidance.”
“We are proud to have played a part in the Paula’s Choice growth story, and are impressed with what CEO Tara Poseley and her team have accomplished, building upon the amazing brand Paula created,” said Jeffrey Barber, a managing director at TA. “Paula’s Choice has grown into a leading direct-to-consumer global skin care brand, and we are excited to see what the company can accomplish in partnership with Unilever. We wish the Paula’s Choice team much continued success.”
Financo Raymond James (lead), Morgan Stanley & Co. LLC and Piper Sandler & Co. are serving as financial advisors, and Goodwin Procter is serving as legal counsel to TA. Baker McKenzie is serving as advisor to Unilever