Three Oceans, a New York-based merchant banking boutique, brought Jennifer Doré Russo on board this week as a partner focusing on the consumer market.
Russo was most recently managing director at Sonenshine Partners and has spent 20 years working in the consumer space.
The M&A market has picked up recently after a slow start to the year, and Russo said the beauty, wellness and accessories sectors would continue to see deals.
Companies with an e-commerce focus or a direct-to-consumer model are also on the radar. “In the deal world, that’s where a lot of the interesting things are happening, new business models and new ways to reach the consumers,” Russo said.
The wellness area could also see some wheeling and dealing.
“As consumers are living longer…we will continue to see a lot of consolidation in that space, whether it’s fitness or other ways to be healthy or skin care,” Russo said. “The healthy-living market can encompass so many different things, and we will see companies try to offer more than just one thing to consumers.”
Three Oceans works on the classic merchant banking model, both advising clients on deals and investing its own capital. Earlier this year, the firm took a stake in the quickly growing Tory Burch.