Pacific World merges with beauty implements supplier W.E. Bassett Co.
LAKE FOREST, Calif. — Pacific World, a manufacturer of nail and beauty care products, has merged with W.E. Bassett Co., a supplier of beauty implements, creating the fifth-largest cosmetics company and second-largest nail care company by sales in food, drug and mass retailers nationwide.
“The transaction with [the] W.E. Bassett Co. represents a merger of two strong global cosmetic accessory companies,” stated Joe Fracassi, president and CEO of Pacific World. “Pacific World has further solidified its leading portfolio of nail care solutions to enhance the shopping experience and provide a one-stop shop for consumers through the Fing’rs, Nailene and Trim brands.”
The nail care category grew 16.1% between 2010 and 2011, according to Pacific World, and the current economic climate has shifted consumer focus to at-home retail products rather than salon treatments. In light of this, the product portfolios of both companies are well-positioned to capitalize on the trend of at-home nail care indulgences, including the 2012 launch of SensatioNail, one of the first at-home gel manicure systems on the market.
“Utilizing Pacific World’s strengths and position in the industry, our brands now have the opportunity to grow more rapidly by ultimately reaching more consumers,” added Craig Finney, president of W.E. Bassett Co. “We are excited to see two companies come together to create an unmatched nail care leader and better serve retailers for category growth.”
The company is expecting to continue its growth through both organic efforts and strategic acquisitions.
The merger with W.E. Bassett Co. completes a series of four acquisitions/mergers aimed to broaden Pacific World’s global scope. In June, Pacific World acquired Fing’rs Europe, an artificial nails brand, and now owns and distributes the Fing’rs brand globally after having acquired Fing’rs U.S. in 2005. The acquisition of Woodward Laboratories in 2010 broadened the company’s reach and opened the door to the niche market of specialty foot care products.
Levine Leichtman Capital Partners IV, a $1.1 billion private equity fund, funded the investments in Pacific World and W.E. Bassett Co. Levine Leichtman Capital Partners is a Los Angeles-based investment firm that manages approximately $5 billion of institutional investment capital through private equity partnerships.