PE Tech Report

NEWSLETTER

Like this article?

Sign up to our free newsletter

Henkel to acquire professional hair care brand DevaCurl

Henkel is to acquire Deva Parent Holdings from a fund managed by the Private Equity Group of Ares Management Corporation. Deva Parent Holdings owns DevaCurl, a high-growth professional hair care business. 

Founded in 1994, the company offers hair care and styling products for all types of curly and wavy hair with a comprehensive portfolio of vegan and “free from” formulas. The product range includes cleansers, conditioners, styling products, styling accessories, and treatments. The portfolio of DevaCurl is highly complementary to the existing portfolio of Henkel Beauty Care. The ‘Premium Professional’ products of DevaCurl are distributed in the US in leading salons. They are also available at selective retailers like Ulta and Sephora as well as through direct-to-consumer (D2C) and eCommerce platforms. In 2019, the business is expected to generate sales of around 100 million US dollars, mainly in the US market. The company employs around 200 people. 

“This acquisition is part of our strategy to expand our position in attractive and fast-growing markets and categories. It will complement and further strengthen our Hair Professional business,” says Henkel CEO Hans Van Bylen. 

“DevaCurl is one of the fastest-growing ‘Premium Professional’ hair care brands in the US. The brand is a perfect fit for our Beauty Care business and will reinforce the growth momentum of our Hair Professional portfolio in the world’s largest hair professional market,” says Jens-Martin Schwärzler, Executive Vice President and responsible for Henkel’s Beauty Care business. 

“We are grateful for the opportunity to have partnered with DevaCurl’s outstanding management team,” says Dennis Gies, Partner in the Private Equity Group of Ares Management. “We are proud to have supported the company during its significant growth over the past two and a half years and are delighted that they found the right partner in Henkel to support the company in the years ahead.” 

The agreement is subject to customary closing conditions, including regulatory approvals. 

Like this article? Sign up to our free newsletter

MOST POPULAR

FURTHER READING

Featured