Company, Launched In Partnership With Global Private Equity Firm Warburg Pincus, Announces Acquisitions Of Laura Geller, Julep And Clark’s Botanicals
Glansaol, a new prestige beauty and personal care company, announced today that it has signed agreements to acquire three brands – Laura Geller, Julep and Clark’s Botanicals. Glansaol, which means “pure life” in the Irish language and is pronounced Glan-Sale, will operate an integrated portfolio of global beauty and personal care brands, diversified across segments, channels and geographies.
Glansaol was founded through a partnership between Alan T. Ennis, a beauty industry veteran and former President and Chief Executive Officer of Revlon Inc., and Warburg Pincus, a global private equity firm focused on growth investing. Through Ennis’ extensive beauty and personal care background, Glansaol is managed by a team of seasoned executives to deliver superior results and long-term growth acceleration. Glansaol works with individual brands to retain their brand uniqueness while collaborating together on innovation, research and ideas across brands. Through this approach, Glansaol is dedicated to providing consumers with high quality, innovative products.
The acquisition of Laura Geller is closed. Julep and Clark’s Botanicals are expected to close shortly. Terms were not disclosed.
“Our objective is to build Glansaol into a world-class, global beauty and personal care company by acquiring, integrating, and growing a portfolio of premium, complementary brands, managed by a team of seasoned executives,” said Ennis, President and CEO of Glansaol. “I am delighted to be taking this first bold step. Each of the three brands we are acquiring today plays a specific and important role in our portfolio and will retain their individual brand autonomy and culture. I believe that our unique long-term view of building the next great beauty company, is appealing to both brand owners and the capital markets.“
“We are excited to support the acquisition of these three strong and growing brands with diversified demographics, and believe they will benefit from enhanced scale, marketing and distribution capabilities as part of the Glansaol platform,” said Annette Rodriguez, Managing Director, Warburg Pincus. “Alan, along with Martine Williamson, Glansaol Chief Marketing Officer, bring invaluable insights into beauty and personal care, and we see meaningful opportunities for growth and expansion. We look forward to investing behind Glansaol as it makes additional acquisitions of complementary brands over time.“
Warburg Pincus LLC is a leading global private equity firm focused on growth investing. The firm has more than $40 billion in private equity assets under management. The firm’s active portfolio of more than 130 companies is highly diversified by stage, sector and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 16 private equity funds, which have invested more than $58 billion in over 760 companies in more than 40 countries. Warburg Pincus has invested more than $12.5 billion in over 200 healthcare and consumer companies. Current and former investments in the retail and consumer goods sectors include Neiman Marcus, Wanse, REISS, Biba Apparels, Kalyan Jewellers, Kidswant, and Intime Department Store Group, among others.
Glansaol hand-selected Laura Geller, Julep and Clark’s Botanicals to be its first acquisitions because of their inspirational founders, high quality products and unique position within the marketplace.
Laura Geller New York: Laura Geller is a leading prestige color cosmetics brand developed in 1997 by professional makeup artist, Laura Geller. Renowned as the pioneer of the “baked” category of makeup – cult-favorite, multi-tasking powders that deliver remarkably vibrant color – and for its easy-to-use, dual-purpose products intended to simplify and improve women’s makeup routines.
“The idea that Glansaol means “pure life” really resonated with me. Together, we will create something better, bigger, and stronger. I am greatly looking forward to the next phase of growth for the business,” said Laura Geller, Founder of Laura Geller.
Elana Drell-Szyfer, CEO at Laura Geller, said, “I have known Alan for several years and have great respect for him, both personally and professionally. His broad knowledge of all facets of the industry and strong belief in brands makes him and the Glansaol team a powerful new force to be reckoned with in the industry.”
Rich Gersten, Partner at Tengram Capital, who acquired a majority stake in the Laura Geller brand in 2012, stated, “It has been an absolute pleasure working with the Laura Geller team over the last four years. I am confident that Glansaol is the right partner to take this great brand to the next level.“ Continue reading