Consumer products group Helen of Troy has announced that one of its subsidiaries has acquired Recipe Products, the owner of prestige hair care brand Curlsmith.
The purchase was settled for 150 million dollars in cash, subject to customary closing adjustments.
Founded in 2017, Curlsmith is a “category leader” for the fast growing market of high-end products for curly and wavy hair, Helen of Troy said in a release.
The group added that Curlsmith is now the most profitable brand in its portfolio and will contribute to the growth of its beauty operating margin.
“We believe Curlsmith is an excellent fit with Helen of Troy, both strategically and financially,” said chief executive officer, Julien R. Mininberg.
Mininberg continued: “This transaction advances Helen of Troy’s strategy to invest in businesses that can accelerate profitable growth in categories where we can add value and leverage our scalable operating platform.”
The acquisition comes as part of the group’s objective of garnering early stage, fast growing companies that complement its portfolio, with…
