Wella Company acquires hair care brand Briogeo
The beauty company, which was spun off from former parent company Coty last year and is now owned by private equity firm KKR, acquired the haircare brand for an undisclosed amount. Briogeo, a ‘clean’ hair care brand, was founded by Nancy Twine in 2013 and has gained traction in recent years for its products, which are formulated to meet specific hair needs and types, like her ‘Don’ t Despair, Repair, ‘line for damaged hair.Twine will remain the managing director of Briogeo and will also take a seat on Wella’s management team.
Wella was looking for potential acquisition opportunities, but “we really wanted to make sure it was a business that was growing faster than us,” said Wella chief executive Annie Young-Scrivner.
She added that Briogeo’s area of expertise complemented what Wella lacked: Briogeo is a “clean” hair care brand that is sold in high-profile retail spaces, such as Sephora and Revolve, the two areas that Wella is looking to expand as so-called hair skin-ification continues. . Briogeo, on the other hand, has yet to enter trade shows, an area Young-Scrivner said Wella would help develop.
Under the Wella umbrella, Briogeo will have access to the company’s research and innovation capabilities and teams. Priorities going forward will be to expand Briogeo’s international footprint, as well as grow its product range and introduce it into new spaces, such as trade shows.
The acquisition is the first for Briogeo under KKR ownership and Scivner-Young said Wella was open to bringing more brands into the corporate fold if they make sense in the portfolio.
“We are going to be a player that not only grows in the color segment, but also in the care segment,” she said. “We will continue to keep our eyes peeled, but we don’t have to buy anyone.”
Inside the Prestige Haircare Boom
Sales of premium hair products grew 32% in 2021 and more brands are launching science-based scalp serums and hair repair treatments in response to customer demand.