07.06.17
Private equity firm North Castle Partners has completed the sale of Mineral Fusion Natural Brands LLC to BWX Limited. The terms of the transaction were not disclosed.
Mineral Fusion products are distributed at approximately 3,000 stores, including Whole Foods, natural/specialty retail, select grocery/drug accounts, as well as online through its own e-commerce website and third-party digital retailers. The line is also sold internationally via distribtors.
"Our investment in Mineral Fusion reflects the benefits of focus and partnership as a means to growing small brands into leading companies. Building on North Castle's historical experience in the category, Mineral Fusion grew from a single customer cosmetic brand into the leading natural brand of mineral-based personal care products across multiple categories, including color cosmetics, body, skin care, nail care, and hair care," commented North Castle managing director Jon Canarick. "One example of the benefits of North Castle's focus was our ability to draw on Gil Pritchard, a North Castle Advisor and formerly the CEO of Avalon Organics, a former North Castle portfolio company, to lead this company. Many of our advisors and network played important roles in the successful development of Mineral Fusion."
Speaking on behalf of co-founder Tim Schaeffer and himself, Gil Pritchard added: "Our partnership with North Castle has spanned more than a decade and two North Castle portfolio companies. When we developed the idea to expand the Mineral Fusion brand, we believed that it was positioned to address the needs of consumers by delivering beauty without compromise through professional quality, naturally formulated products. North Castle supported our team through an extraordinary period of growth. We are very pleased Mineral Fusion found a home with BWX. Our companies are mission aligned and we are being encouraged to continue to pursue our passion and values."
BWX Limited is a vertically integrated developer, manufacturer, distributor and marketer of branded personal care products with an emphasis on the natural segment of the market. The company owns, produces, and distributes under the Sukin, DermaSukin, Uspa, Edward Beale, and Renew skin care brands.
"Our partnership with Gil and the Mineral Fusion team is the most recent example of our vision of realizing the power of values-based partnerships and experienced operating resources to help entrepreneurs take their companies to the next stage of their development – what we call 'Full Potential Partnerships'. We continue to look for opportunities in the beauty and personal care sector and across the Healthy, Active and Sustainable Living markets to leverage our knowledge, network and experience in building market leaders like Mineral Fusion," added Chip Baird, CEO and founder of North Castle Partners.
Houlihan Lokey served as the exclusive financial advisor to Mineral Fusion and assisted in structuring and negotiating the transaction.
Mineral Fusion products are distributed at approximately 3,000 stores, including Whole Foods, natural/specialty retail, select grocery/drug accounts, as well as online through its own e-commerce website and third-party digital retailers. The line is also sold internationally via distribtors.
"Our investment in Mineral Fusion reflects the benefits of focus and partnership as a means to growing small brands into leading companies. Building on North Castle's historical experience in the category, Mineral Fusion grew from a single customer cosmetic brand into the leading natural brand of mineral-based personal care products across multiple categories, including color cosmetics, body, skin care, nail care, and hair care," commented North Castle managing director Jon Canarick. "One example of the benefits of North Castle's focus was our ability to draw on Gil Pritchard, a North Castle Advisor and formerly the CEO of Avalon Organics, a former North Castle portfolio company, to lead this company. Many of our advisors and network played important roles in the successful development of Mineral Fusion."
Speaking on behalf of co-founder Tim Schaeffer and himself, Gil Pritchard added: "Our partnership with North Castle has spanned more than a decade and two North Castle portfolio companies. When we developed the idea to expand the Mineral Fusion brand, we believed that it was positioned to address the needs of consumers by delivering beauty without compromise through professional quality, naturally formulated products. North Castle supported our team through an extraordinary period of growth. We are very pleased Mineral Fusion found a home with BWX. Our companies are mission aligned and we are being encouraged to continue to pursue our passion and values."
BWX Limited is a vertically integrated developer, manufacturer, distributor and marketer of branded personal care products with an emphasis on the natural segment of the market. The company owns, produces, and distributes under the Sukin, DermaSukin, Uspa, Edward Beale, and Renew skin care brands.
"Our partnership with Gil and the Mineral Fusion team is the most recent example of our vision of realizing the power of values-based partnerships and experienced operating resources to help entrepreneurs take their companies to the next stage of their development – what we call 'Full Potential Partnerships'. We continue to look for opportunities in the beauty and personal care sector and across the Healthy, Active and Sustainable Living markets to leverage our knowledge, network and experience in building market leaders like Mineral Fusion," added Chip Baird, CEO and founder of North Castle Partners.
Houlihan Lokey served as the exclusive financial advisor to Mineral Fusion and assisted in structuring and negotiating the transaction.