Creating a transformational platform to higher serve the splendor industry
HAUPPAUGE, N.Y., March 11, 2019 /PRNewswire/ — JD Beauty Co., LLC (“JD Beauty”), the business enterprise behind the famous WetBrush branded hair care add-ons, Bio Ionic hair styling equipment, and Ouidad hair care, announced nowadays that it’s going to merge with Goody Products, Inc. (“Goody”).
ACON Investments, L.L.C. And its affiliates (“ACON”), owners of Goody in view that their purchase of Goody from Newell Brands in August 2018, has signed a definitive settlement to shop for a controlling hobby in JD Beauty from Topspin Partners II, and its affiliates (“Topspin Partners”), a purchaser-centered personal equity company, and will integrate the companies.
JD Beauty’s portfolio of dynamic haircare manufacturers, like WetBrush, Bio Ionic and Ouidad, will merge with the long-lasting Goody Products Inc. To form an effective multi-brand diversified haircare accent, liquid and device business enterprise uniquely poised to serve the splendor enterprise.
Jeffrey Davidson, CEO of JD Beauty who will become CEO of the combined entities upon final, stated: “This is an thrilling day for us and the beauty enterprise. Together we will better serve both the expert and purchaser splendor enterprise, with game converting product development competencies, dynamic advertising projects, and excellent-in-magnificence income assist and customer support. This transformational acquisition will integrate one of the quickest growing organizations in the beauty industry with one of us of a’s most iconic and depended on splendor brands, Goody. Over the route of our partnership with Topspin Partners, we grew drastically thru the release of numerous new product strains, multiplied distribution abilities and the finishing touch of strategic add-on acquisitions. We strongly trust this boom can hold thru a partnership with ACON and Goody if you want to provide us with getting entry to extra resources to construct and boost up our platform.”
Ken Brotman, Founding and Managing Partner at ACON commented, “The mixture of JD Beauty and Goody creates a powerful dealer in the enterprise. We look ahead to running with Jeffrey and the complete JD Beauty and Goody groups to maintain a growth trajectory for the included organization.”
Leigh Randall, Managing Partner at Topspin Partners said, “JD Beauty is an terrific and innovative platform that has redefined the haircare industry. Over the past three years, Jeffrey and the group have grown the organization from its unmarried product beginnings in detangling brushes right into a multi-class, multichannel platform. We are assured that JD Beauty will maintain its boom beneath ACON and we want the JD Beauty team the very best of their next chapter.”
Intrepid Advisors and Lowenstein Sandler, LLP served as advisors and criminal counselor to JD Beauty.