Funds managed by Clayton, Dubilier & Rice will acquire personal-care products firm High Ridge Brands in a transaction valued at $415 million.
The private equity company is acquiring High Ridge from Brynwood Partners. High Ridge has a portfolio of brands that includes Zest, Alberto VO5, White Rain, Coast and Rave.
Ken Giuriceo, a Clayton, Dubilier & Rice partner, said, “High Ridge Brands is a well-diversified portfolio of longstanding, resilient personal-care brands with strong share positions in the personal cleansing and hair care categories.”
James Daniels, chief executive officer of High Ridge Brands, said of Clayton, Dubilier & Rice: “The firm’s experience with corporate carve-outs, deep consumer products expertise and reputation for operational excellence will be invaluable as we continue to scale.”
John Compton, a former president of PepsiCo and operating partner at Clayton, Dubilier & Rice, said, “We look forward to working closely with the High Ridge leadership team as it executes its strategy to accelerate organic growth and continues to pursue accretive add-on acquisitions.”
Compton will join the board of High Ridge once the transaction closes, which is expected sometime in June. Joining him on the board will be Vindi Banga, another Clayton, Dubilier & Rice operating partner and former president of foods, home and personal care at Unilever.