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Market Monitor: Personal Care
Making the right decisions for your business starts with having the most accurate and current information available. Our Personal Care Market Monitor keeps you up to date on the events, trends, and market forces that shape and guide the industry.
- While transaction volume in the Personal Care sector is behind 2022 levels and well below peak 2021 levels, there are signs of accelerating activity. Of the 20 Personal Care M&A transactions completed year-to-date August 2023, 13 have come within the past four months.
- Perhaps an indication of stabilizing credit markets, private equity groups accounted for 25% of completed Personal Care M&A transactions thus far in 2023, compared to just 8% during all of 2022.
- Although valuation multiples have declined from the all-time highs of 2021, premium valuations exist for companies with differentiated products, superior profit margins and strong growth trajectories, as evidenced by e.l.f. Beauty’s recently announced acquisition of skincare brand Naturium (implied 21x EV/EBITDA multiple).