Helen of Troy Broadens Beauty With Olive & June

Helen of Troy is acquiring Olive & June, a leader in DIY nail care products. 

Founded in 2013, Olive & June manufactures a range of nail products, including polish, artificial, tools, treatment, and care. The company was founded as a salon in 2013 by Sarah Gibson Tuttle and expanded into at-home products in 2019. 

The U.S. at-home nail market expanded by double-digits during the pandemic, according to Mintel, as consumers sought to replicate salon treatments at home. Growth has unsurprisingly slowed, though the larger $2.35 billion nail care market was anticipated to remain steady in 2024.  

Helen of Troy, which includes such brands as Hydro Flask, Oxo, Braun, Revlon, and Drybar in its portfolio, will use the deal to further diversify its offerings. Noel Geoffroy, CEO of Helen of Troy, noted in a statement the brand complements their existing beauty portfolio and broadens them beyond the hair category with a high-growth and high-margin consumables business. 

He added they also see significant opportunities to build on consumer engagement, breakthrough commercial and product innovation, and distribution. 

See also: Learn how Helen of Troy is meeting bifurcated consumers 

Olive & June will operate in a stand-alone but supported model, with the brand continuing to operate largely as today, minus areas where they want to accelerate momentum, according to Helen of Troy. 

The CPG will pay $225 million in cash upfront and a $15 million earnout subject to performance over three years.  Olive & June is expected to generate around $92 million in net sales this year. 

The deal is expected to close this year.