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Published
Aug 26, 2021
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Shiseido Americas to sell makeup brands to Advent International

Published
Aug 26, 2021

Japanese cosmetics firm Shiseido has signed a definitive agreement to sell three of its makeup brands to a newly formed company by private equity firm Advent International.

Shiseido America’s to sell makeup brands to Advent International. - Facebook: Laura Mercier


BareMinerals, Buxom, and Laura Mercier will part ways with Shiseido Americas and switch hands to join AI Beauty Holdings Ltd., in a deal worth $700 million, according to Reuters. Over the past 30 years, Advent has invested $13.6 billion in more than 80 retail, consumer, and leisure companies worldwide.

The purchase from Shiseido Americas is Advent’s second investment in the beauty industry in the last two years, following its acquisition of prestige hair-care brand Olaplex in January 2020. It was equally the majority owner of Douglas, Europe’s leading beauty retailer, from 2013 to 2015. Other recent North American investments in the sector include Thrasio, Sovos Brands, First Watch, Aimbridge Hospitality, and Lululemon.

“We have been proud stewards of BareMinerals, Buxom, and Laura Mercier, and we believe Advent is the right partner to guide these incredible brands into their next chapter,” said Ron Gee, president and chief executive officer of Shiseido Americas and Global M&A leader.

“This transaction will infuse BareMinerals, Buxom, and Laura Mercier with the resources and support needed for the brands and their talented teams to continue to grow.”


Upon completion of the transaction, Pascal Houdayer, who has 30 years of senior management experience in the beauty industry, will serve as chief executive officer of the standalone business. Moreover, Advent Operating Partner Janet Gurwitch, a distinguished beauty industry investor and founder and former CEO of Laura Mercier, advised Advent on the transaction and will continue to advise the firm and the new company.

“We are strong believers in the bareMinerals, Buxom, and Laura Mercier brands,” said Tricia Glynn, a managing director at Advent. “They are clear leaders in prestige beauty and are widely recognized for their quality, authenticity, and innovation, with differentiated products and devoted customers. We are excited to partner with Pascal as CEO of the new company to accelerate the growth of these brands by continuing to develop innovative products, expanding into new categories and geographies, and enhancing digital engagement with customers.”

BareMinerals launched in 1995 and is recognized as a leader in mineral-based cosmetics. All the while, Buxom, created in 2007, is a color cosmetics brand known for its big personality and prestige makeup brand Laura Mercier, founded in 1996, has pioneered the natural, “flawless face” category.

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