THE WHAT? The Carlyle Group has initiated the sale of Tokiwa Corp, a Japanese cosmetics supplier, with the potential deal valuing the company at US$800 million. Tokiwa, boasting a 75-year history and an expected EBITDA of US$50 million, is attracting bids from private equity and cosmetics firms.
THE DETAILS Tokiwa seeks a sale price that could exceed its US$800 million valuation, with Carlyle looking to capitalize on its investment aimed at international expansion since 2019. The sale is advised by Jefferies and SMBC Nikko Securities, highlighting the strategic move by Carlyle to navigate its investment portfolio.
THE WHY? Carlyle’s investment in Tokiwa aimed to bolster the company’s international market presence, recognizing its pivotal role in the cosmetics industry and employing over 800 people globally. This sale is part of Carlyle’s broader strategy in Japan, marking its ongoing engagement in the market through significant investments over the past two decades.
Clinical aesthetics products refer to a category of products used in the field of medical aesthetics or cosmetic dermatology. These products are typically designed and formulated to be used under the supervision of healthcare professionals, such as dermatologists, plastic surgeons, or trained aestheticians. They are distinct from over-the-counter cosmetics in that they often contain active ingredients or formulations that require expertise in their application or administration.
Examples of clinical aesthetics products include:
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Dermal Fillers: Injectable substances used to add volume, smooth wrinkles, and enhance facial contours. Examples include hyaluronic acid fillers like Juvederm and Restylane.
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Botulinum Toxin (Botox): Injectables that temporarily paralyze facial muscles to reduce the appearance of wrinkles caused by repetitive movements, such as frown lines and crow's feet.
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Chemical Peels: Solutions applied to the skin to exfoliate and improve its texture. They can treat acne, pigmentation issues, and signs of aging.
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Laser and Light Therapies: Devices that emit focused light or laser energy to treat various skin conditions, including acne, scars, and signs of aging.
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Prescription Skincare Products: Formulations containing active ingredients like retinoids (vitamin A derivatives), hydroquinone, or prescription-strength antioxidants to address specific skin concerns under medical supervision.
