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Wella Company Acquires Briogeo

May 4, 2022
May 4, 2022
Briogeo

Wella Company has reached a definitive agreement to acquire Briogeo, one of the fastest-growing haircare brands globally and one of the largest independent Black-owned brands in the United States.

WHO: Entrepreneur Nancy Twine launched Briogeo in 2013 with a mission to inspire, educate, celebrate diversity, and empower every person's healthy hair journey. Briogeo has revolutionized clean and natural haircare, offering effective products and solutions for every hair type, hair texture, hair need, ethnicity, background, and person. All Briogeo products are formulated without sulfates, silicones, parabens, phthalates, artificial dyes, and DEA, and are formulated with the brand's proprietary Nova Complex, a blend of natural oils, vitamins, and antioxidants.

Wella Company is one of the world's leading beauty companies, comprised of a family of iconic brands including Wella Professionals, ghd, O·P·I, Nioxin, Sebastian Professional, and Clairol. Wella is led by innovators who seek to inspire consumers and beauty professionals through its brands to look, feel, and be their true selves. Wella is committed to building the best beauty company in the industry where its 6,000+ employees across more than 100 countries can bring their best selves to work.

WHY: Wella intends to support Briogeo and its strategy to excel at the forefront of sustainable beauty. The deal will accelerate Wella's growth and expand the company's sustainable portfolio, fueling momentum in the hair category. Briogeo aligns with Wella’s deep commitment to building a company with Diversity, Equity, and Inclusion (DEI) and Environmental, Social and Governance (ESG) embedded into its core. The addition of the Briogeo portfolio of prestige haircare complements Wella’s ambitions to deliver more diverse products for all hair types, while expanding clean and green products across its portfolio offerings.

IN THEIR OWN WORDS: "Acquiring Briogeo marks Wella Company's first portfolio expansion as an independent entity. Briogeo's high-growth, eco-ethical and natural hair care products complement our existing hair portfolio and sustainable offerings and will fuel our growth momentum in the hair category, which is now the fastest growing segment in beauty," said Annie Young-Scrivner, Chief Executive Officer of Wella Company. "I'm proud of the growth our company has achieved so far in just 17 months—and in Briogeo we have found a truly special and complementary partner. Briogeo has been at the forefront of the clean and natural hair revolution since the company started in 2013, and its rise has been nothing short of remarkable. Together we'll extend our sustainable product offerings even more, expand our premium retail footprint and drive both commercial and social impact to new levels."

"The strength of Wella Company's Research & Development, digital marketing and global operations, and their ability to reach 91 million hair and nail professionals and followers they serve and support will take our Briogeo brand to the next level," said Nancy Twine, CEO of Briogeo. "This is a significant strategic partnership for both sides, and one that is compatible in ambition, philosophy and culture. In Wella Company we have a committed partner to help our business and our employees reach the next level of growth. We're excited to accelerate our expansion and innovation, globally delighting more people in more geographies and through broader delivery channels."

DETAILS:

  • Wella will add Briogeo to its portfolio for an undisclosed sum. 
  • WWD reported the brand's revenue exceeded $100 million, according to industry sources.
  • Wella returned to independent operating status on December 1, 2020, after affiliates of global investment firm KKR acquired a majority equity stake in the company.
  • Private equity firm VMG made a minority investment in Briogeo in 2019. 
  • Financo | Raymond James advised Briogeo on the transaction.
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