CORE Industrial Partners portfolio company Arizona Natural Resources acquires Marianna Beauty
CORE Industrial Partners (CORE), a Chicago-based private equity firm, has acquired Marianna Beauty Holdings (Marianna), an Omaha, Nebraska-based leading developer and manufacturer of innovative hair, skin and beauty products, by portfolio company Arizona Natural Resources (ANR).
Founded in 1968, Marianna is a full-service custom manufacturer, formulator and distributor of client-tailored hair care, hand and body products, styling aids and fixatives, hair colour and dispensary products, and pet grooming products. Marianna operates a 400,000 square foot FDA-registered and cGMP-compliant facility, offering a comprehensive suite of capabilities, including research and development, packaging compatibility, preservative efficacy and micro testing, regulatory expertise, global sourcing competency, customised kitting, and multiple distribution options.
Together, Marianna and ANR have more than 100 years of experience, creating a platform that combines both emerging and legacy brands while expanding the overall scope and capabilities in order to serve a diverse range of customers. The collective entity will operate nearly 40 filling lines and more than 100 storage and mixing tanks handling liquid, cream, and hot fill products in sizes ranging from a half-ounce sachet to full tanker trucks across nearly 550,000 square feet between the two facilities.
Mike Cate, Chief Executive Officer for Marianna, says: “The combination of Marianna and Arizona Natural Resources will generate immediate benefits to our customers as we build on the already formidable product capabilities of the two businesses, leverage scale advantages that come with operating a much larger company, and expand our enterprise distribution footprint across the West Coast and Midwest. I look forward to working with the ANR and Marianna teams to continue to drive value to customers through our organic and acquisition-based growth initiatives.”
John May, Managing Partner of CORE, says: “We remain committed to investing in the personal care products space with a particular focus on hair and skin care companies that can further expand the combined platform. We believe the long-term growth fundamentals of this industry coupled with CORE’s capital and resources is a winning combination to build a larger industry player that will benefit our customers.”
Frank Papa, Senior Partner of CORE, says: “Marianna and ANR are highly complementary, well-established players in the beauty and personal care industry. The two companies combine to form an industry leader with substantial operational scale, comprehensive chemical formulation capabilities, and plentiful capacity for their customers. We’re excited to work with the Marianna team to expand both their product offerings and their geographic reach.”
Norton Rose Fulbright LLP provided legal representation to CORE in the transaction.