2023-11-07-科尔尼-resetting_the_stage_for_M_A_-_Kearney_13页_720kb

Summary of BPC M&A Industry Analysis

The beauty and personal care (BPC) industry remains a high-volume market for mergers and acquisitions (M&A), driven by trends in health and well-being, clean beauty, and digital business models. Despite high historical M&A activity, with peaks in 2019, recent years show mixed results due to economic factors like rising interest rates and operational challenges. Acquisitions are primarily motivated by enhancing product portfolios, diversification, and growth acceleration, with strategic and financial investors each contributing about 50% to deals. CVC activity is increasing but less successful. Future M&A is expected to accelerate, with a shift to smaller and larger transactions, focusing on Asian markets and skin care categories. Challenges include ensuring effective integration and value creation, as many historical deals failed to deliver shareholder value. The industry will likely see increased investments in technology, data analytics, and resilient assets to navigate market changes.