Beauty’s $1 Billion-Plus M&A Boom

Deals, deals and more deals. For the past five years, beauty M&A activity has been on fire, and 2019 proved to be no exception. While some of the deals were smaller — there were a lot of $5 million or $10 million raises, a result of smaller funds and venture capitalists moving into the space to provide capital to the influx of brands — beauty M&A continued its historic boom throughout the year. See also: The 10 Most Important Beauty M&A Deals of 2019 On the large end, there were many billion-dollar moments. At the tail end of the year, International Flavors & Fragrances Inc. inked a $26 billion merger with DuPont’s Nutrition and Biosciences business. Combined, those two business will become a major provider of ingredients to the food and beverage, beauty and supplements industries. The deal is expected to close in early 2021. “[Wellness] is a very important part of it,” Andreas Fibig, chief executive officer of IFF, told WWD after the deal was announced. “We [will] have biotech capabilities we never had before, which is fantastic to come up with good molecules. We have capabilities to bring things together. Also a trend recently is beauty from within, and health, so the probiotic

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