Chicago private equity firm Core Industrial Partners has closed a majority investment in Arizona Natural Resources. This is the firm’s first beauty deal.
WHO: Arizona Natural Resources, headquartered in Phoenix and founded in 1972, operates a midsize business that makes custom product formulations, specializing in skincare and haircare. The focus has been supporting the emerging and mid-tier brands and helping them accelerate their growth.
WHY: The move is the first step in a broader plan to build up the next major North American beauty manufacturing platform through organic growth and future acquisitions.
IN THEIR OWN WORDS: “We’ve been studying the health and beauty industry for the better part of a year, we’ve been looking for the right entry point to make,” John May, Managing Partner at Core, said.
“We intend to scale this platform with additional acquisitions. We actually have another business under a letter of intent as we speak. We want to make this a nationwide, personal-care products contract manufacturing business,” May said.
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