Under the terms of the agreement, Tengram will run the company as an independent and stand-alone entity based in New York City. Closing is expected to be completed by the end of November. To ensure continuity for customers, Shiseido Americas will continue to provide supply chain, distribution and other support services during the transition.
Tengram Capital is a private equity firm that invests in companies in the branded consumer products and retail space and acts as a catalyst to drive growth. Its current beauty portfolio includes Nest Fragrances, Algenist and more.
The new company will be led by Elana Drell Szyfer, who worked with Tengram as the CEO of Laura Geller New York, which Tengram sold in 2016.