Helen Of Troy Acquires Curlsmith Hair Care

Helen of Troy Limited, designer, developer and worldwide marketer of consumer brand-name home, outdoor, health, wellness, and beauty products, has acquired Recipe Products Ltd. through one of its subsidiaries.
 
Founded in 2017, Recipe Products’ Curlsmith products are a leader in the rapidly growing market for prestige haircare products for all types of curly and wavy hair. Curlsmith’s range of conditioners, shampoos, and co-washes was created in partnership with expert trichologists and stylists specializing in healthy hair.
 
Its formulas are purposefully designed for the unique joys and challenges of all types of curls and textured hair. The products are vegan friendly and cruelty free, and do not use sulfates, parabens, silicones, mineral oils, phthalates, or diethanolamine (DEA) in their formulation.
 
The total purchase consideration, net of cash acquired, was $150.0 million in cash, subject to certain customary closing adjustments.
 

Julien R. Mininberg, chief executive officer, stated, “We believe Curlsmith is an excellent fit with Helen of Troy, both strategically and financially. This transaction advances Helen of Troy’s strategy to invest in businesses that can accelerate profitable growth in categories where we can add value and leverage our scalable operating platform. It aligns with a key Phase II M&A objective of tucking in early stage, fast growing, and disruptive innovators to complement our portfolio of Leadership Brands. Curlsmith expands our platform in prestige beauty to capitalize on the fast-growing textured hair market.”
 
Mininberg continued, “As our third transaction in Beauty so far in Phase II, Curlsmith will complement our Drybar, Revlon and HOT Tools brands by broadening our range of offerings to consumers and professionals across the good, better, and best segments and adding more prestige liquids to our portfolio. We see excellent upside potential for Curlsmith, and we expect to add significant value to it by capitalizing on our expertise in beauty and our shared services platform.”
 
Michal Berski, Curlsmith founder and CEO added, “Helen of Troy has a talent for spotting exceptional indie brands that do things differently, and turbo charging them. So, from the get-go we knew that Curlsmith would be a compelling strategic fit. As a market-leading textured haircare brand, Curlsmith both complements and brings a new dimension to their already enviable prestige haircare portfolio.”
 
Financo Raymond James acted as exclusive financial advisor to Curlsmith.


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https://www.beautypackaging.com/contents/view_breaking-news/2022-04-25/helen-of-troy-acquires-curlsmith-hair-care/