Unilever, a British-Dutch transnational consumer goods company, has reached a deal to purchase Japanese luxury beauty products company Tatcha for $500 million.
The proposed acquisition of Tatcha, which is on track to bring in $100 million in net sales in 2019, is in line with Unilever’s strategy of expanding its business with acquisitions.
Unilever said that the transaction is expected to support the expansion of the company's prestige beauty segment.
The company's total revenue in 2018 was $57.5 billion, compared with 3.3 percent of the total revenue of $60.6 billion in the prior year.