Helen of Troy LTD to add L.A.-Based Olive & June LLC to Portfolio of Brands

Helen of Troy Ltd. agreed to acquire Los Angeles-based Olive & June LLC from a group of investors including Essential Investment Partners, Alpha Edison, Sugar Capital, Jackalope Ventures, Short List Capital and others for $240 million. The deal consists of $225 million in cash and a contingent payment of $15 million based on the future performance. The acquisition is expected to close by year-end.

”We could not be more excited to add Olive & June to our portfolio of leading brands and we welcome its passionate associates and visionary leadership team to the Helen of Troy family,” said Noel Geoffroy, chief executive of Helen of Troy, in a statement.

Helen of Troy has expanded its portfolio in recent years and owns the Hydro Flask brand water bottle. Olive & June was founded in 2013 and has grown into an omni-channel nail care brand in various categories such as polish, artificial, tools, treatment, and at-home nail care.

“As we join the Helen of Troy family, a company known for elevating everyday experiences with innovative consumer products, I could not be more thrilled to lead this next chapter of growth for the brand,” said Sarah Gibson Tuttle, founder and chief executive of Olive & June, in a statement.