Yellow Wood Partners’ Suave Brands closes ChapStick purchase
Yellow Wood Partner’s portfolio company, Suave Brands, has completed its acquisition of the ChapStick brand from Haleon.
In addition, the closing of the transaction also resulted in Haleon becoming a shareholder in Suave Brands.
“As we continue to build Suave Brands Company as the top independent North American beauty and personal care company by combining the agility of a start-up with the power of market leading brands, the addition of ChapStick is a perfect fit that augments our strategy,” Suave Brands chief executive officer, Daniel Alter, said. “This transaction is a great example of Suave Brands Company's disciplined approach to value-creating acquisitions and our larger growth strategy.”
Suave Brands’ portfolio includes a roster of hair, body, skin, antiperspirant and deodorant brands, for women, men and children that are sold across mass retailers, grocery stores, drug retailers and e-commerce platforms.
[Read more: Coty reports above-market sales growth in Q3 led by beauty demands]
“We see strategic value in combining ChapStick with Suave and as a result of this acquisition, we have expanded Suave’s capabilities and portfolio of products,” said Dana Schmaltz, partner at Yellow Wood Partners. “Our brands have strong equity and a profitable organic growth strategy in place. The combined expertise and resources of Suave and ChapStick will enable us to better serve our customers and consumers and accelerate growth.”
Yellow Wood’s portfolio includes such brands as Dr. Scholl’s, School International, Beacon Wellness, Real Techniques, EcoTools, Byoma, Isle of Paradise, Tanologist and TanLuxe.
“Over the past several months, we have worked with Haleon and ChapStick management to seamlessly integrate the brand into the Suave Brands Company's sales presence, operational footprint and marketing organization,” said Tad Yanagi, partner at Yellow Wood Partners. “With the completion of this acquisition, Suave Brands Company’s annual retail sales now reach ~$800 million, and we look forward to working with our retail partners to take the next step in the brands' growth.”
