Henkel has sold several of its personal care brands, including Coast, L.A. Looks, Dep Sport and Soft & Dri deodorant.
High Ridge Brands, which is based in Stamford, CT and is majority-owned by Brynwood VI, has acquired the global rights to the Coast personal cleansing brand from The Dial Corporation, a subsidiary of the Henkel group. Terms of the transaction were not disclosed.
In a simultaneous transaction, Newhall Laboratories has acquired the rights to the L.A. Looks, Dep Sport, Zero Frizz and Thicker Fuller Hair portfolio of hair care brands, the Soft & Dri female deodorant brand and the Pure & Natural liquid hand soap and body wash brand. Newhall is part of Brynwood Partners VI L.P.’s Gold Sun Inc. portfolio company, which is based in Santa Clarita, CA.
Originally launched in 1975, Coast is a personal cleansing brand and known as “The Eye Opener” for awakening users through an invigorating and refreshing early morning shower experience. Coast is available in both bar soaps (Pacific Force and Arctic Boost) and body washes (Pacific Force and Urban Fuel). Coast products are widely distributed in the US through leading retailers in the food, drug, mass and dollar channels.
High Ridge Brands was formed by Brynwood VI in January 2011 to purchase the North American Zest personal cleansing brand from The Procter & Gamble Company. In August 2011, High Ridge Brands acquired the US and Puerto Rico brand and marketing rights to the Alberto VO5 brand and the worldwide marketing and brand rights to the Rave brand.
In just over a year, High Bridge “has created a leading personal care company with well-known consumer brands including Zest, Alberto VO5, Rave and now Coast. We will continue to manage our investment by growing all of these brands through renewed marketing and product innovation,” said Dario Margve, managing Partner of Brynwood VI and chairman of High Ridge Brands.
“We believe that, in particular, the L.A. Looks and Dep Sport businesses will greatly complement our La Bella hair care brand,” added Margve. “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.”
In its 28-year history, Brynwood Partners has acquired 30 corporate brands from 13 different corporate sellers, including the Henkel acquisitions. Since January 2011, the firm has completed the acquisitions of 14 corporate brands in five separate transactions.