---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-222959"
form_type: "8-K"
ticker: "ELF"
cik: "0001600033"
company_name: "e.l.f. Beauty, Inc."
filed_at: "2023-08-29T23:59:59+00:00"
generated_at: "2026-06-11T02:23:32.151939+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# e.l.f. Beauty to acquire skin care brand Naturium for $355M in cash and stock

## Summary
- Total consideration of $355M includes ~$70M (600k shares) of e.l.f. stock issued to founders and key management.
- Naturium expected ~$90M net sales and ~$17M adj. EBITDA this year; purchase multiple ~4x sales and ~21x EBITDA.
- Deal expected to close around Sept. 30, 2023; fiscal 2024 contribution estimated at $48M net sales, $9M adj. EBITDA, $0.04 adj. EPS.
- Financed via cash on hand, revolver borrowings, and $115M incremental term loan under amended credit agreement.
- Naturium to remain in Los Angeles; founder Susan Yara supports transaction and brand's integration.

## SEC filing metadata
- accession: 0001193125-23-222959
- form_type: 8-K
- ticker: ELF
- cik: 0001600033
- company_name: e.l.f. Beauty, Inc.
- filed_at: 2023-08-29T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1600033/000119312523222959/0001193125-23-222959-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1600033/000119312523222959/d533955d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-222959
- JSON: https://secwatch.observer/filing/0001193125-23-222959.json
- Plain text: https://secwatch.observer/filing/0001193125-23-222959.txt

## Key facts
- Material Agreements
  e.l.f. Beauty, Inc. entered into Securities Purchase Agreement with Naturium LLC, TCB-N Prelude Blocker Corp., The Center Brands LLC, Elaine J. Balady valued at $355.0 million total consideration, $72.02 million in stock (effective 2023-08-28).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Naturium LLC, TCB-N Prelude Blocker Corp., The Center Brands LLC, Elaine J. Balady
  - Value: $355.0 million total consideration, $72.02 million in stock
  - Effective: 2023-08-28
  source text: On August 28, 2023 (the “ Signing Date ”), e.l.f. Beauty, Inc., a Delaware corporation (the “ Company ”), entered into a Securities Purchase Agreement (the “ Purchase Agreement ”) by and among the Company, Naturium LLC, a Delaware limited liability company (“ Naturium ”), TCB-N Prelude Blocker Corp., a Delaware limited liability company (“ Blocker ”), The Center Brands LLC, a Delaware limited liability company (“ TCB ”), Elaine J. Balady, an individual (together with TCB, the “ Naturium Sellers ”), TCB Prelude Holdings, LLC, a Delaware limited liability company (together with the Naturium Sellers, the “ Sellers ” and each, a “ Seller ”), e.l.f. Cosmetics, Inc., a Delaware corporation (“ e.l.f. Cosmetics ”), and TCB, in its capacity as the Sellers’ representative (the “ Representative ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1600033/000119312523222959/0001193125-23-222959-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.