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Court approves the sale of its assets and subsidiaries that include Cake Beauty, Marc Anthony True Professional, Renpure and The Mane Choice.
November 27, 2023
By: Christine Esposito
Editor-in-Chief
Mav Beauty Brands Inc. has obtained the approval of the Ontario Superior Court of Justice for sale of substantially all of the assets and its subsidiaries to an affiliate of Nexus Capital Management LP, the Los Angeles-based private equity firm. The company owns four brands—Marc Anthony True Professional, Renpure, Cake Beauty and The Mane Choice—which sell hair care, face and body care beauty products in more than 25 countries. The company anticipates that the completion of the sale will occur on or about December 8, 2023, but not later than December 22, 2023, subject to the satisfaction or waiver of customary closing conditions. Mav Beauty Brands anticipates that its operations will continue uninterrupted in the ordinary course of business. The company's common shares on the Toronto Stock Exchange (TSX) has halted and the TSX will delist the company's common shares on December 21, 2023. Mav Beauty Brands began trading on the TSX in 2018, as reported by Happi.
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