Centric Brands, a producer and licensee of more than 100 brands, has acquired Taste Beauty.
WHO: Taste Beauty was founded in 2015 by a trio of beauty industry executives: Tom Crowley, Sabrina Vertucci, and Alex Fogelson. Taste Beauty is a leading beauty brand for teens, tweens, and beyond, inspired by pop culture, incredible flavors, and products you can’t resist sharing on social media. The company is the go-to licensing partner for the world’s most iconic, evergreen brands and characters, creating unique, safe, and high-quality beauty and personal care products for all retail channels. Its product offerings fall under its owned brands Taste and Defendr+, as well as numerous iconic licensed brands through license agreements with Disney, Nickelodeon, Netflix, Mattel, MGA, Hasbro, Nestlé, Pepsi, and others. Taste Beauty’s products are sold online and in over 50,000 retail doors worldwide.
Centric Brands is a leading lifestyle brand collective that designs, sources, markets, and sells high-quality products in multiple segments, including kids, men’s and women’s apparel, accessories, beauty, and entertainment. The company’s portfolio includes more than 100 iconic licensed brands.
WHY: The acquisition augments Centric Brand’s Kids and Licensed Entertainment portfolio and illustrates the company’s strategy—to aggressively grow its core business vertical while deepening the businesses relationships with its licensors, vendors, and retail partners as it grows Taste Beauty’s business along with its own Beauty division.
IN THEIR OWN WORDS: “We are thrilled to welcome Taste Beauty and its team into the Centric Brands family,” said Jason Rabin, Chief Executive Officer of Centric Brands, in a statement. “This acquisition allows us to tap into an entrepreneurial, innovative, and proven leadership team that combined with our existing beauty division creates the market authority resource in this category. It also further strengthens our bath and beauty product offering while expanding our entertainment licensing platform into complementary categories and properties.”
“We are incredibly excited to join forces with Centric Brands, leveraging their resources, platform, and broad distribution to build on our growth strategy in the coming years,” said Fogelson, CEO of Taste Beauty and President of Centric Brands’ beauty division. “This partnership allows us to provide an even stronger value proposition to our key retail and licensing partners.”
DETAILS:
