E.l.f. Enters Clean Beauty With $27 Million W3LL People Deal

E.l.f. Beauty has inked its first acquisition — clean beauty brand W3LL People. E.l.f. is paying $27 million to take over the business, which is expected to do $7 million in net sales for 2020. The deal is expected to add 1 cent to E.l.f.’s adjusted earnings per share for fiscal 2021, the company said. Buying W3LL People marks E.l.f.’s first serious move into the clean beauty space, chairman and chief executive officer Tarang Amin told WWD in an interview. The plan is to learn from the W3LL People team — all three founders are staying on board — and further incorporate clean beauty formulations into the E.l.f. product assortment. “Clean beauty is a strategically important segment given consumer sentiment and strong growth rates. W3LL People has a long history of expertise and credibility in clean beauty that works. Their brand values and market opportunity align closely with E.l.f.’s strategy and we believe there are a number of synergies to be realized on both the cost and distribution fronts,” Amin said in a statement. W3LL People, founded in 2009, was one of the early movers in the clean makeup space. The brand is best known for its Expressionist Mascara, which quickly became a leader

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