Brynwood Partners VI LP’s portfolio company, High Ridge Brands Co – owner of the North American Zest personal cleansing franchise – is to acquire the Alberto VO5 brand and marketing rights in the US and Puerto Rico from Unilever. In addition, High Ridge will also acquire the rights to the Rave brand and marketing rights worldwide.
Unilever has retained the rights to the Alberto VO5 brand outside the US and Puerto Rico. High Ridge Brands is based in Stamford, CT and Brynwood VI is its majority owner. The transaction, which is subject to approval by the US Department of Justice, is expected to close by the end of August. Terms and conditions of the transaction will not be disclosed.
Alberto VO5 is an iconic brand that was launched in 1955 by the Alberto-Culver Company and is well known for its hair care products including shampoos, conditioners, hair treatments and styling aids. Alberto VO5 has been a top 15 hair care brand for decades and enjoys very high consumer awareness. Originally founded in 1978, Rave is an enduring brand with strong consumer loyalty for its line of hair spray products. Rave is a household name and is recognised for styling products that provide long-lasting hold. The products of both brands are widely distributed in the US and Puerto Rico.
"We are delighted to announce the signing of an agreement to acquire the Alberto VO5 and Rave brands," says James Daniels, President & CEO, High Ridge Brands. "We believe that these businesses will greatly complement the Zest personal cleansing brand currently marketed by High Ridge Brands and we look forward to bringing renewed attention and energy to both the Alberto VO5 and Rave brands."
"We are excited to make another acquisition in the personal care space and to add to our very successful Zest business. In an eight month period, we will have created a company with approximately USD200 million in sales and look forward to growing the business through renewed marketing, product innovation and selected add-on acquisitions," says Dario Margve, Managing Partner, Brynwood Partners and Chairman of High Ridge Brands.
