ACON Investments LLC said Aug. 13 that it agreed to buy Goody Products Inc. Financial terms weren’t announced. Newell Brands is the seller. Goody makes hair styling tools and accessories. Hogan Lovells LLP served as ACON’s legal adviser.
WASHINGTON, Aug. 13, 2018 /PRNewswire/ — ACON Investments, L.L.C. and its affiliates (“ACON“) announced today that it has signed a definitive agreement to buy Goody Products, Inc. (“Goody” or the “Company“), an iconic manufacturer of hair styling tools and accessories from Newell Brands (NYSE: NWL). The closing of the sale is subject to customary conditions, including regulatory approvals.
“We are excited to be able to give Goody the focus and resources it deserves to prosper as one of the leading brands in its segments. We plan to leverage our experience to build iconic brands through product innovation and enhanced distribution to continue the Company’s growth trajectory,” said Suma Kulkarni, Partner at ACON. “We are excited to be partnering with Goody management and we are confident the Goody brand will continue to succeed under our new ownership,” added Anjali Jolly, Partner at ACON.
“This is an exciting day for Goody, and I’m excited for the team to grow with ACON,” said Kim Hoelting, General Manager of Goody. “I am confident that ACON will help us build on a century of success and continue to grow our business.”
Hogan Lovells LLP served as ACON’s legal advisor.
Terms of the transaction were not disclosed.
About Goody Products, Inc.
Headquartered in Atlanta, Georgia, Goody Products, Inc., an iconic manufacturer of hair styling tools and accessories. Initially founded in 1907 as H. Goodman & Son, Goody sells its products through retailers worldwide, including North America, Latin America, Europe and Asia.
About Newell Brands
Newell Brands (NYSE: NWL) is a leading global consumer goods company with a strong portfolio of well-known brands, including Paper Mate®, Sharpie®, Dymo®, EXPO®, Parker®, Elmer’s®, Coleman®, Jostens®, Marmot®, Oster®, Sunbeam®, FoodSaver®, Mr. Coffee®, Rubbermaid Commercial Products®, Graco®, Baby Jogger®, NUK®, Calphalon®, Rubbermaid®, Contigo®, First Alert®, and Yankee Candle®. For hundreds of millions of consumers, Newell Brands makes life better every day, where they live, learn, work and play.
About ACON Investments
ACON Investments, L.L.C. is a Washington, DC-based international private equity investment firm that manages private equity funds and special purpose partnerships that make investments in the United States and Latin America. Founded in 1996, ACON has responsibility for managing approximately $5.3 billion of capital. ACON has professionals in Washington, DC, Los Angeles, São Paulo, Bogotá and Mexico City. For more information, visit www.aconinvestments.com.