Yesterday, Helen of Troy has announced its acquisition of Olive & June, the popular nail care brand, for a total of $240 million—$225 million in cash and a $15 million performance-based earnout over three years. The deal, expected to close by year-end, marks a significant expansion for Helen of Troy into the nail care category, broadening its beauty portfolio beyond its core focus on hair care.
Founded in 2013 by Sarah Gibson Tuttle, Olive & June has rapidly grown to become a leader in nail care, offering a comprehensive range of products, including polish, artificial nails, tools, treatments, and care items. The brand is sold in 8,000 retail locations, including Walgreens, Walmart, and Target, where it holds the top-selling nail brand position with collections that frequently sell out. In 2024, the company anticipates generating $92 million in net revenue, with its recently launched Gel Polish outperforming expectations by over 150%.
Helen of Troy CEO Noel M. Geoffroy praised Olive & June’s innovation and consumer-focused approach, highlighting its strong alignment with Helen of Troy’s strategic and financial goals. “We see significant opportunities to build on its strengths and expand its availability,” Geoffroy noted, emphasizing the brand’s high-growth potential and strong margins.
Sarah Gibson Tuttle expressed excitement about the partnership, saying, “Joining the Helen of Troy family will help us take Olive & June to new heights. We remain committed to our mission of being the go-to at-home nail solution for everyone.” Tuttle will continue leading Olive & June, which will operate as a stand-alone but supported entity within Helen of Troy.
The acquisition builds on Helen of Troy’s recent investments in the beauty sector, including the purchase of Drybar for $225 million in 2019, a licensing deal with Revlon in 2020, and the acquisition of Curlsmith in 2022. The company plans to include the financial impact of Olive & June in its updated fiscal 2025 outlook, to be shared during its earnings release on January 9.
