Adore Beauty Group Limited (ASX:ABY) agreed to acquire iKOU Australia Pty Ltd for AUD 25 million on June 28, 2024. Adore Beauty Group Limited will pay a cash consideration of AUD 20 million. Adore Beauty Group Limited will pay an earnout/contingent payment of AUD 5 million in cash. As part of the consideration, AUD 25 million is paid towards the common equity of iKOU Australia Pty Ltd. The transaction will be financed through internal funds.

The expected completion of the transaction is July 31, 2024.