Wella Company has made its first acquisition under KKR’s ownership.
The parent company of OPI, Nioxin and GHD has added Briogeo, the natural hair care brand founded by Nancy Twine in 2013, to its portfolio for an undisclosed sum. As reported by WWD, the brand was said to reach a sales volume exceeding $100 million, per industry sources.
Annie Young-Scrivner, Wella’s chief executive officer, said that while Wella’s business was growing double digits, Briogeo caught her eye because of its own rise in sales. “We looked at companies growing even faster than us,” she said. “With Briogeo’s size, [Twine] has just knocked it out of the park, doing extremely well in premium retail and also building her digital capacity.”
Young-Scrivner added that while the brands in her purview already focused on sustainability, Briogeo’s commitment to the cause would allow Wella to double down on it. “We’re very thoughtful of areas where we’re not as strong,” she said.
The infusion will also ignite product development in current and adjacent categories. “We have an incredible innovation arm with research and development centers across the globe, and we could fuel her growth in hair, and maybe in skin,” Young-Scrivner said.
International expansion is in the works for the brand, which has a presence in the U.S. as a Sephora-exclusive brand and a growing presence in key markets. “[Twine’s] strength is that she started her business in the U.S., and she’s starting that expansion in Europe and Asia. We could definitely help fuel that — we’re in 100 countries across the globe, and it’s also making sure we’re growing in the right way,” Young-Scrivner explained.
“The strength of Wella Company’s research and development, digital marketing and global operations, and their ability to reach 91 million hair and nail professionals and followers they serve and support will take our Briogeo brand to the next level,” said Nancy Twine, CEO of Briogeo, in a statement. “This is a significant strategic partnership for both sides, and one that is compatible in ambition, philosophy and culture. In Wella Company we have a committed partner to help our business and our employees reach the next level of growth. We’re excited to accelerate our expansion and innovation, globally delighting more people in more geographies and through broader delivery channels.”
In 2020, Coty sold Wella to a joint venture majority owned by private equity firm KKR.
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