High Ridge Brands Co., has acquired the global rights to the Coast personal cleansing brand from the Dial Corporation, a subsidiary of the Henkel Group. Based in Stamford, Connecticut, High Ridge Brands is majority-owned by the private equity firm Brynwood Partners, which formed the platform company in January of last year, when it purchased the North American Zest personal cleansing brand from Procter & Gamble. Terms and conditions of the transaction, which closed on March 31st, will not be disclosed.
Brynwood Partners VI L.P. announced today that its portfolio company, High Ridge Brands Co., has acquired the global rights to the Coast personal cleansing brand from The Dial Corporation, a subsidiary of the Henkel group. Based in Stamford, CT, High Ridge Brands is majority-owned by Brynwood VI. Terms and conditions of the transaction, which closed on March 31st, will not be disclosed.
In a simultaneous transaction, Brynwood VI portfolio company, Golden Sun, Inc. (d/b/a Newhall Laboratories), acquired the rights to the L.A. Looks, Dep Sport, Zero Frizz and Thicker Fuller Hair portfolio of hair care brands, the Soft & Dri female deodorant brand and the Pure & Natural liquid hand soap and body wash brand from Henkel.
Originally launched in 1975, Coast is an iconic personal cleansing brand and known as “The Eye Opener” for awakening users through an invigorating and refreshing early morning shower experience. Coast is available in both bar soaps (Pacific Force and Arctic Boost) and body washes (Pacific Force and Urban Fuel). Coast products are widely distributed in the U.S. through leading retailers in the food, drug, mass and dollar channels.
“We are delighted to announce the acquisition of the Coast brand,” said James Daniels, President and CEO of High Ridge Brands. Mr. Daniels continued, “the Coast brand has a very loyal consumer following and we look forward to bringing renewed attention and energy to Coast.”
“We are excited to make another acquisition in the personal care space and to add to our very successful High Ridge Brands business. In just over a year, we have created a leading personal care company with well-known consumer brands including Zest, Alberto VO5, Rave and now Coast. We will continue to manage our investment by growing all of these brands through renewed marketing and product innovation,” said Dario Margve, Managing Partner of Brynwood VI and Chairman of High Ridge Brands.
Brynwood Partners has developed a unique niche of being the lower middle market firm of choice for corporate divestitures. In its 28-year history, Brynwood Partners has acquired 30 corporate brands from 13 different corporate sellers, including the Henkel acquisitions. Since January 2011, the firm has successfully completed the acquisitions of 14 corporate brands in five separate transactions.
“On behalf of Brynwood Partners and High Ridge Brands, I would like to thank the Henkel team for its partnership in closing the acquisition of the Coast brand,” said Henk Hartong III, Senior Managing Partner of Brynwood Partners.
About Brynwood Partners:
Founded in 1984, Brynwood Partners is an operationally-focused private equity fund that makes control investments in lower middle market companies. Brynwood Partners targets companies operating in the following sectors: (a) consumer products, (b) light manufacturing with low capital intensity and (c) business services.
Brynwood Partners is currently managing over $500 million of private equity capital for its limited partners who include U.S. and international pension funds, fund-of-funds, endowments, high net worth family investment offices and financial institutions. For more information on Brynwood Partners, please visit www.brynwoodpartners.com.
About High Ridge Brands:
High Ridge Brands was formed by Brynwood VI in January 2011 to purchase the North American Zest personal cleansing brand from the The Procter & Gamble Company and to serve as a platform for further acquisitions in the personal care consumer segment. In August 2011, High Ridge Brands acquired the U.S. and Puerto Rico brand and marketing rights to the Alberto VO5 brand and the worldwide marketing and brand rights to the Rave brand. High Ridge Brands is headquartered in Stamford, Connecticut.