Henkel acquires DevaCurl
Henkel’s beauty portfolio is expanding.
The company announced that it has signed an agreement to acquire hair care brand DevaCurl from the Private Equity Group of Ares Management.
“This acquisition is part of our strategy to expand our position in attractive and fast-growing markets and categories. It will complement and further strengthen our Hair Professional business,” Henkel CEO Hans Van Bylen said.
Founded in 1994, the brand offers hair care and styling products for all types of curly and wavy hair and a range of vegan and free from formulas, the company said.
“DevaCurl is one of the fastest-growing ‘Premium Professional’ hair care brands in the US. The brand is a perfect fit for our Beauty Care business and will reinforce the growth momentum of our Hair Professional portfolio in the world’s largest hair professional market,” Jens-Martin Schwärzler, executive vice president and responsible for Henkel’s Beauty Care business, said.
DevaCurl’s offerings include cleansers, conditioners, styling products, styling accessories and treatments, and can be found at such retailers as Sephora and Ulta Beauty, as well as through direct-to-consumer and e-commerce platforms.
“We are grateful for the opportunity to have partnered with DevaCurl’s outstanding management team,” Dennis Gies, a partner in the Private Equity Group of Ares Management, said. “We are proud to have supported the company during its significant growth over the past two and a half years and are delighted that they found the right partner in Henkel to support the company in the years ahead.”