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Bid Deadline Approaches for Elemis Sale Process, Sources Said

Bids are due Dec. 20 for L Catterton-backed skin-care brand Elemis, said sources familiar with the auction.
At this point, the process is focused exclusively on strategic buyers, sources said.
The high-end skin-care brand has tapped Jefferies as lead bank, with Nomura, to run a sale process, the sources said. The Elemis business has $140 million in net sales and $40 million in earnings before interest, taxes, depreciation and amortization, and is expected to post net sales in 2019 of $185 million with EBITDA of $55 million, according to industry sources.
Spokespeople for Jefferies, Nomura, L Catterton and Elemis declined to comment.
Elemis’ line includes products such as Pro-Collagen Marine Cream SPF 30, $128, and Peptide 4 Eye Recovery Cream, $49, that are sold in multiple points of distribution, including Ulta Beauty, QVC, Amazon and cruise ships — something the brand got into through sister company OneSpaWorld.
Both brands were part of Steiner Leisure, which Catterton bought in 2015 for $925 million. In November, the PE firm sold OneWorldSpa to a special purpose acquisition vehicle called Haymaker Acquisition Corp. Now, the Steiner Leisure portfolio includes Elemis, as well as Bliss and other spa lines.
Elemis’ growth has come from both the U.S. market with Ulta Beauty and

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Via:: https://wwd.com/beauty-industry-news/skin-care/bid-deadline-approaches-for-elemis-sale-process-sources-said-1202914684/