Unilever in 2.27b euro deal for Korean cosmetics maker

London

UNILEVER agreed to buy a South Korean cosmetics maker for 2.27 billion euros (S$3.6 billion) to gain a stronger foothold in the world's fourth-largest skincare market.

Unilever will buy Carver Korea, maker of AHC skincare products, from shareholders including Goldman Sachs Group Inc and Bain Capital Private Equity, the London- and Amsterdam-based company said in a statement on Monday. Carver had sales of 321 million euros last year.

For the Anglo-Dutch consumer-goods giant, whose brands include Ben & Jerry's ice cream and Dove soap, the acquisition marks a shift from other recent purchases in niche areas like organic tea and vegan mayonnaise as chief executive officer Paul Polman pursues a commitment to sustainability. The company has also been building up a "prestige" arm within its personal care business, targeting high-end brands founde…