05:42 PM EST, 11/21/2024 (MT Newswires) -- Helen of Troy (HELE) agreed to acquire nail care brand Olive & June for $240 million, including $225 million in cash at closing and a $15 million earnout over three years.

Olive & June's 2024 net revenue is expected to be $92 million, Helen of Troy said Thursday in a statement.

The acquisition, projected to close this year, is expected to be accretive immediately to adjusted per-share earnings and revenue growth rates, Helen of Troy said.