At Star Avenue Capital it’s one in and one, maybe, out.
Star Avenue took a stake of Macadamia Natural Oil, a premium, professional hair care brand based in Chatsworth, Calif. Terms of the deal were not disclosed.
The investment firm — a collaboration of the John Howard-led Irving Place Capital and talent agency Creative Artists Agency — is also in talks to sell its stake in J Brand.
Macadamia’s was founded in 2009 by chief executive officer John Fasan, who will be working with Star Avenue to grow the business into a “leader in the global hair care industry.”
“Star Avenue shares our vision for the Macadamia brand and brings unique resources, capabilities, and insight that would otherwise not be available to the company,” Fasan said. “Star Avenue has access to CAA’s extensive network of relationships and resources as well as the agency’s unique insight into popular culture, and to [Irving Place’s] relevant investment experience in the consumer and retail sectors.”
Star Avenue’s managing director Craig Elson said Macadamia had become “a global business in a very short period of time.” Macadamia uses macadamia and argan oils to help “heal, revitalize, and control problem hair.”