what? Henkel has signed an agreement to acquire Deva Parent Holdings, owner of the DevaCurl brand, from private equity owner Ares Management Corporation.
detail The category-leading curly hair care and styling brand offers a comprehensive range of products, including vegan and “free from” formulas, sold in salons and through select retailers such as Ulta and Sephora in the U.S. . Sales are expected to reach $100 million this year.
“This acquisition is part of our strategy to extend our position in attractive and fast-growing markets and categories,” said Henkel CEO Hans Van Bylen.
“DevaCurl is one of America’s fastest growing ‘premium professional’ hair care brands. The brand is a perfect fit for our beauty care business and will strengthen the growth momentum of our hair professional portfolio in the world’s largest hair professional market. ”
Why? The acquisition strengthens Henkel’s professional hair care portfolio. As the category leader in the rapidly growing curly hair care segment, DevaCurl complements Henkel’s existing portfolio, offering strong innovation capabilities and an attractive distribution model.
