TA Associates is now invested in hair care brand Marc Anthony.
The Boston-based private equity firm has listed the mass-market hair care brand on its web site as an investment made in 2016. Directors at TA did not immediately respond to requests for comment. The firm makes both minority and majority investments, and earlier this year did a majority recapitalization deal with Bertram Capital to take over Paula’s Choice, a transaction estimated by sources at $275 million.
Marc Anthony was founded in 1995 by hair stylist Marc Anthony Venere, and is based in Toronto. The brand sells hair- and body-care products through retailers including Amazon, CVS, Ulta Beauty and Walgreen Co. The product lineup consists of shampoos, conditioners, hairspray and other styling products, with sales estimated at about $40 million to $50 million, industry sources said. It was named as a potential takeover target back in June.
The plan under TA is to continue expansion in Canada, where the brand is already big, as well as grow in the U.S. and internationally, according to industry sources.
TA makes investments that range between $50 million and $500 million, generally in companies valued at between $100 million and $3 billion, according to the firm’s web site. TA’s other consumer investments include Dutch LLC, the owner of Joie, Equipment and Current/Elliott, and Zadig & Voltaire.
Beauty M&A has been on fire, with recent deals coming from the Estée Lauder Cos. Inc., which has made deals for Too Faced for $1.45 billion; Becca Cosmetics for $230 million, according to sources, and By Kilian for $80 million, sources have said. L’Oréal recently paid $1.2 billion to take over IT Cosmetics, and has also added Atelier Cologne and other brands. Shiseido picked up Laura Mercier and ReVive for $260 million, sources said, plus the Dolce & Gabbana fragrance license from Procter & Gamble.
Coty closed on its deal for 41 of P&G’s beauty brands for $11.4 billion, taking over a handful of fragrances licenses plus Wella, CoverGirl and Max Factor. Then, it paid about $510 million to take over hair tool brand GHD. In mass-market hair care, Johnson & Johnson recently paid $3.3 billion to take over OGX, which makes several lines of shampoos, conditioners and hair treatments.