Private equity firm Brynwood Partners has announced that its portfolio company Golden Sun (doing business as Newhall Laboratories) has acquired the rights to a number of personal care brands from manufacturer Henkel.
Newhall Labs/ Golden Sun now owns the rights to the the L.A. Looks, Dep Sport, Zero Frizz and Thicker Fuller Hair portfolio of hair care brands, which it believes will strengthen its own current offering in this field.
"We are delighted to announce the acquisition of this great portfolio of brands," said Dario Margve, chairman of Golden Sun.
Complement current lines
"We believe that, in particular, the L.A. Looks and Dep Sport businesses will greatly complement our la bella hair care brand.”
As part of the transaction, the California-based company has also bought the Soft & Dri female deodorant brand and the Pure & Natural liquid hand soap and body wash brand from The Dial Corporation, a subsidiary of the Henkel group.
“The remaining acquired brands have loyal consumer followings and will greatly benefit from the renewed attention that our company will provide to the sales and marketing efforts,” adds Margve.
It is not the first time parent company Brynwood Partners has made a move into the cosmetics and personal care space.
Personal care presence
In its 28-year history, Brynwood Partners has acquired 30 corporate brands from 13 different corporate sellers, including the Henkel acquisitions.
Last year the company acquired the Alberto Culver VO5 line from Unilever, as well as Golden Sun, which has a strong presence in the hair care market with its la bella, GroWorks and Monkey Brains brands.
"On behalf of Brynwood Partners and Golden Sun, I would like to thank the Henkel team for its partnership in closing the acquisition of these iconic personal care brands," said Henk Hartong, senior managing partner of Brynwood Partners.
In a simultaneous transaction, Brynwood VI portfolio company, High Ridge Brands, acquired the Coast personal cleansing brand from Henkel.