Wella Company Amplifies Growth with the Acquisition of Briogeo, a Fast-Growing Independent Hair Care Company Focused on Eco-Ethical
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Wella Company Amplifies Growth with the Acquisition of Briogeo, a Fast-Growing Independent Hair Care Company Focused on Eco-Ethical and Natural Hair Care Products
NEW YORK and GENEVA, Switzerland, April 29, 2022 /PRNewswire=KYODO JBN/ --
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
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.
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"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.
For more information on Wella Company, visit www.wellacompany.com and follow us
on LinkedIn (
), Instagram (
) and Facebook (
).
About Briogeo
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 (TM) (NO
harsh sulfates, silicones, parabens, phthalates, artificial dyes, and DEA) and
are naturally derived with the brand's proprietary NOVA Complex(R), 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.
Advisory Support
Briogeo was advised by Financo | Raymond James.
Wella Company Contact: Hilary Crnkovich
Chief Communications & Sustainability Officer
Phone number: + 646-217-1700
Email: hilary.crnkovich@wella.com
SOURCE The Wella Company
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