11.08.11
Pacific World Corporation, a supplier of nail and beauty care products worldwide, has merged with beauty tool maker The W.E. Bassett Company—a deal that the two firms say creates the fifth largest cosmetics company and second largest nail care company by sales in food, drug, and mass retailers nationwide.
"The transaction with The W.E. Bassett Company represents a merger of two strong global cosmetic accessory companies," said Joe Fracassi, president and CEO of Pacific World. "Pacific World has further solidified its leading portfolio of nail care solutions to enhance the shopping experience and provide a one-stop-shop for consumers through the Fing'rs, Nailene, and Trim Brands."
The nail care category grew 16.1% between 2010 and 2011 and the current economic climate has shifted consumer focus to at-home retail products rather than salon treatments. The product portfolios of both companies are well positioned to capitalize on the new trend of at home nail care indulgences including the 2012 launch of SensatioNail, one of the first at-home gel manicure systems on the market.
Pacific World Corporation was founded in 1973 by Robert Leathers and entered the nail care market with the Nailene brand in 1983. In 1995, Pacific World expanded its business to include international markets. In 2002, Pacific World signed a license agreement with Revlon for the Artificial Nail business. A year later, this license agreement was expanded to include Revlon-branded false eyelashes. Additionally, Pacific World launched geoGiRL Cosmetics in February of 2011 and has been the exclusive marketing/sales distributor of Bio-Oil in the US since 2007.
The W.E. Bassett Company is the largest supplier of beauty implements globally. Started in 1947 by William E. Bassett with the TRIM product line, Bassett has now grown to include more than 900 quality products. Bassett Products are sold in more than 60,000 retail outlets in more than 74 countries around the world.
"Utilizing Pacific World's strengths and position in the industry, our brands now have the opportunity to grow more rapidly by ultimately reaching more consumers," said Craig Finney, president of The W.E. Bassett Company. "We are excited to see two companies come together to create an unmatched nail care leader and better serve retailers for category growth."
The merger with The W.E. Bassett Company completes a series of four acquisitions/mergers aimed to broaden Pacific World's global scope. In June, Pacific World acquired Fing'rs Europe, a maker of artificial nails, and now owns and distributes the Fing'rs brand globally after having acquired Fing'rs US in 2005.The acquisition of Woodward Laboratories in 2010 broadened the company's reach and opened the door to the niche market of specialty foot care products.
The investments in Pacific World and The W.E. Bassett Company were funded by Levine Leichtman Capital Partners IV, L.P., a $1.1 billion private equity fund.
"The transaction with The W.E. Bassett Company represents a merger of two strong global cosmetic accessory companies," said Joe Fracassi, president and CEO of Pacific World. "Pacific World has further solidified its leading portfolio of nail care solutions to enhance the shopping experience and provide a one-stop-shop for consumers through the Fing'rs, Nailene, and Trim Brands."
The nail care category grew 16.1% between 2010 and 2011 and the current economic climate has shifted consumer focus to at-home retail products rather than salon treatments. The product portfolios of both companies are well positioned to capitalize on the new trend of at home nail care indulgences including the 2012 launch of SensatioNail, one of the first at-home gel manicure systems on the market.
Pacific World Corporation was founded in 1973 by Robert Leathers and entered the nail care market with the Nailene brand in 1983. In 1995, Pacific World expanded its business to include international markets. In 2002, Pacific World signed a license agreement with Revlon for the Artificial Nail business. A year later, this license agreement was expanded to include Revlon-branded false eyelashes. Additionally, Pacific World launched geoGiRL Cosmetics in February of 2011 and has been the exclusive marketing/sales distributor of Bio-Oil in the US since 2007.
The W.E. Bassett Company is the largest supplier of beauty implements globally. Started in 1947 by William E. Bassett with the TRIM product line, Bassett has now grown to include more than 900 quality products. Bassett Products are sold in more than 60,000 retail outlets in more than 74 countries around the world.
"Utilizing Pacific World's strengths and position in the industry, our brands now have the opportunity to grow more rapidly by ultimately reaching more consumers," said Craig Finney, president of The W.E. Bassett Company. "We are excited to see two companies come together to create an unmatched nail care leader and better serve retailers for category growth."
The merger with The W.E. Bassett Company completes a series of four acquisitions/mergers aimed to broaden Pacific World's global scope. In June, Pacific World acquired Fing'rs Europe, a maker of artificial nails, and now owns and distributes the Fing'rs brand globally after having acquired Fing'rs US in 2005.The acquisition of Woodward Laboratories in 2010 broadened the company's reach and opened the door to the niche market of specialty foot care products.
The investments in Pacific World and The W.E. Bassett Company were funded by Levine Leichtman Capital Partners IV, L.P., a $1.1 billion private equity fund.