Happi staff11.11.19
Henkel has signed an agreement to acquire Deva Parent Holdings, Inc., which owns DevaCurl, from a fund managed by Ares Management Corporation.
Founded in 1994, DevaCurl offers premium and category-leading hair care and styling products for all types of curly and wavy hair with a comprehensive portfolio of vegan and “free from” formulas. The product range includes cleansers, conditioners, styling products, styling accessories, and treatments.DevaCurl’s premium professional’ portfolio is highly complementary to the existing portfolio of Henkel Beauty Care, said the beauty giant.
DevaCurl products are distributed in the US in salons as well as selective retailers such as Ulta and Sephora, direct-to-consumer (D2C) and eCommerce platforms. In 2019, the business is expected to generate sales of around $100 million, mainly in the US market. The company employs around 200 people.
“This acquisition is part of our strategy to expand our position in attractive and fast-growing markets and categories. It will complement and further strengthen our Hair Professional business,” said Henkel CEO Hans Van Bylen.
“We are grateful for the opportunity to have partnered with DevaCurl’s outstanding management team,” said Dennis Gies, partner in the Private Equity Group of Ares Management. “We are proud to have supported the company during its significant growth over the past two and a half years and are delighted that they found the right partner in Henkel to support the company in the years ahead.”
The agreement is subject to customary closing conditions, including regulatory approvals.
Founded in 1994, DevaCurl offers premium and category-leading hair care and styling products for all types of curly and wavy hair with a comprehensive portfolio of vegan and “free from” formulas. The product range includes cleansers, conditioners, styling products, styling accessories, and treatments.DevaCurl’s premium professional’ portfolio is highly complementary to the existing portfolio of Henkel Beauty Care, said the beauty giant.
DevaCurl products are distributed in the US in salons as well as selective retailers such as Ulta and Sephora, direct-to-consumer (D2C) and eCommerce platforms. In 2019, the business is expected to generate sales of around $100 million, mainly in the US market. The company employs around 200 people.
“This acquisition is part of our strategy to expand our position in attractive and fast-growing markets and categories. It will complement and further strengthen our Hair Professional business,” said Henkel CEO Hans Van Bylen.
“We are grateful for the opportunity to have partnered with DevaCurl’s outstanding management team,” said Dennis Gies, partner in the Private Equity Group of Ares Management. “We are proud to have supported the company during its significant growth over the past two and a half years and are delighted that they found the right partner in Henkel to support the company in the years ahead.”
The agreement is subject to customary closing conditions, including regulatory approvals.
