TA Associates-backed Marc Anthony to launch Canadian IPO

Toronto-based beauty company Marc Anthony Cosmetics Inc has hired advisors to run an initial public offering in Canada, according to a report by Bloomberg.

Sources told Bloomberg the company is looking to raise as much as $250 million (US$196 million) in an IPO that could be filed as early as this week.

Founded in 1995 by hair stylist Marc Anthony Venere, Marc Anthony develops, markets and distributes hair care and body care products in more than 25 countries. It was acquired in 2016 by U.S. private equity firm TA Associates. Bloomberg said the purchase price was about $230 million.

In February, Marc Anthony said it acquired Cake Beauty Inc, a Toronto-based beauty brand specializing in natural, vegan and cruelty-free products.