San Francisco-based private equity firm JH Partners has completed the sale of Australian skin care company Jurlique International to Pola Orbis, for an enterprise value of A$335 million ($358 million). JH Partners acquired Jurlique in mid-2006. -cn
JH Partners, a San Francisco-based private equity firm and leader in the branded consumer investment space, announced today that it has completed the sale of Australian skin care company Jurlique International to Pola Orbis for an enterprise value of A$335m (US$358m), which represents approximately 3.8x Jurlique’s annual sales. JH Partners acquired Jurlique in mid-2006. JH Partners manages approximately $1 billion in private equity commitments across three funds.
JH Partners’ Managing Partner John Hansen said, “JH Partners was honored to be invited in 2006 to participate in the business development of Jurlique, which was a direct result of our long-standing success in beauty. We are enthusiastic supporters of this important global skin care brand and proud of the growth and profitability the company has delivered under our watch.”
Over the past five years, Jurlique grew from a niche Australian brand into a proven global beauty brand, with significant traction and high growth in key geographies, particularly in Asia. With the help of JH professionals and a new management team, the company improved its operational structure, brand messaging, packaging, and product development.
Mr. Hansen continued, “This has been a solid investment for JH Partners, as well as our management and co-investor partners. We’re delighted with the outcome of our five years of work with Jurlique’s exceptionally talented management team. We feel especially good about Jurlique’s future growth potential with Pola Orbis.”
Jurlique International President & CEO Sam McKay stated, “I am very grateful to JH Partners for their profound and long-lasting contribution and support to Jurlique. JH Partners drove the repositioning of the brand, the recruitment of a world class global management team and the transition from an Australian focus to a truly global platform.”
JH Partners invests in and supports well-known beauty brands with growth potential in the US and international markets. Over the years, it has invested in such well-known brands as: Bare Escentuals, Kate Somerville, Design Within Reach, Peet’s Coffee & Tea, Frette, and La Perla. GLC Advisors & Co. advised JH Partners on the sale of Jurlique. Goldman Sachs served as advisor to Jurlique.
JH Partners is a San Francisco-based private equity firm focused on investments in growth-oriented middle-market consumer products and services companies. JH Partners distinguishes itself among private equity firms with its decades of relevant operating experience among its professional investment team and the deep understanding of consumer markets that comes with the firm’s narrow investment focus. JH Partners manages approximately $1 billion in private equity commitments across three funds and is currently investing its third fund raised in 2008.
Jurlique is a vertically integrated leader in the natural skincare market. Founded in 1985, the company utilizes plants and botanicals grown on a company owned, 153 acre biodynamic farm in the Adelaide Hills, Australia together with the finest natural ingredients sourced globally to produce highly efficacious products. Jurlique has a powerful multi-channel business model that encompasses concept stores, department stores, specialty retailers, spas, duty free / airlines, and e-commerce in Australia, Asia, the United States and Europe. Jurlique is the leading skin care brand in Australia and experiencing significant growth in Asia.
POLA Orbis is the fourth leading cosmetic company in Japan and has been developing its business model around the cosmetics industry with a recurring theme of “beauty and health” since its founding in 1929. POLA Orbis also operates in overseas markets, including China and Russia, employing a multi-channel strategy with multiple brands to meet diversified customer demands and increase market share. With its 29 consolidated subsidiaries, POLA Orbis has consolidated sales of ¥ 166.6 billion (U.S. $2 billion) for the fiscal year ending December 31, 2011.