Portfolio Expansion Will Accelerate Wella Company's Growth & Extend the Company's Sustainable Portfolio while Fueling Momentum of the Hair Care Category
Acquisition Brings Together Two Accomplished Minority Female CEOs Leading the Businesses Forward
NEW YORK and GENEVA, Switzerland, April 29, 2022 /PRNewswire/ -- Today Wella Company, a global leader in the $100 billion beauty industry with a top professional and retail hair, nail and beauty tech portfolio comprised of iconic brands including Wella Professionals, O·P·I, ghd, Nioxin, Sebastian Professional and Clairol, announced that it has reached a definitive agreement to acquire Briogeo, one of the fastest growing hair care brands in the world and one of the largest independent Black-owned brands in the United States.
"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," said Young-Scrivner.
Under the leadership of Founder and Chief Executive Officer, Nancy Twine, Briogeo has revolutionized clean and natural hair care, offering effective products and solutions for every hair type, hair texture, hair need, ethnicity, background and person. Briogeo has grown quickly since its inception and is an award-winning company, having earned the Allure Best of Beauty Award every year since 2018. Twine is recognized as one of the foremost entrepreneurs of a beauty start-up in the last decade and has been awarded Entrepreneur's 100 Women of Impact in 2021, the Goldman Sachs Builders + Innovators Award in 2020, and the Cosmetic Executive Women (CEW) Female Founder Award in 2019.
Wella Company intends to support Briogeo and its strategy to excel at the forefront of sustainable beauty. Briogeo aligns with Wella Company'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 hair care complements Wella Company's ambitions to deliver more diverse products for all hair types, while expanding clean and green products across its portfolio offerings.
"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."
Wella Company's history of female leadership is unique, having several entrepreneurial women founders including O·P·I co-founder Suzi Weiss-Fischmann, Nioxin's Eva Graham, and Sebastian Professional co-founder Geri Cusenza. Annie Young-Scrivner and Briogeo's Nancy Twine form a duo of minority women leading a high-growth beauty company -- a pairing that not only reinforces diversity and inclusivity but opens a wide aperture for minority women in the industry.
Wella Company returned to independent operating status on December 1, 2020 after affiliates of global investment firm KKR acquired a majority-equity stake in the company. Wella Company remains on an accelerated growth journey to become a leader in the hair, nail and beauty tech category across all delivery channels – professional, retail, ecommerce. Over the course of Wella Company's short tenure, the company has accelerated growth, growing double digit vs 2019 levels. The business is gaining momentum in every geography in which it operates (more than 100 countries) and across all regions: Americas, APAC, EMEA and Brazil.
About Wella Company
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. At Wella Company, we are innovators who seek to inspire consumers and beauty professionals through our brands to look, feel, and be their true selves. We are committed to building the best beauty company in the industry where our 6,000+ employees across more than 100 countries can bring their best selves to work. Guided by our company values and led by purpose to deliver positive impact on people through our products and towards our planet and society, we deliver sustainable growth to all stakeholders.
Briogeo has revolutionized clean and natural hair care, offering effective products and solutions for every hair type, hair texture, hair need, ethnicity, background, and person. All Briogeo products are formulated 6-free ™ (NO harsh sulfates, silicones, parabens, phthalates, artificial dyes, and DEA) and are naturally derived with the brand's proprietary NOVA Complex®, a blend of natural oils, vitamins, and antioxidants. Launched in 2013 by entrepreneur Nancy Twine, Briogeo has become one of the fastest-growing hair care brands in the world and one of the largest, independent Black-owned brands in the US. Briogeo continues to experience momentous year-over-year sales growth with a brand mission to inspire, educate, celebrate diversity, and empower every person's healthy hair journey.
Briogeo was advised by Financo | Raymond James.
Wella Company Contact: Hilary Crnkovich
Chief Communications & Sustainability Officer
Phone number: + 646-217-1700