Private equity firm Clayton, Dubilier & Rice is set to acquire High Ridge Brands from Brynwood Partners VI for $415m.
High Ridge Brands consists of a portfolio of beauty and personal care brands including: Zest, Alberto VO5, Rave, Coast, White Rain, Continental Fragrances and several smaller personal care brands.
At the end of last year, High Ridge Brands sold off seven of its personal care brands to The Village Company based in the US. The brands sold included: Soft & Dri, La Bella, Dep, Pure & Natural, Mink Difference, Adorn and The Dry Look.
Henk Hartong III, President and CEO of Brynwood Partners, said: “We are delighted to announce the sale of High Ridge Brands, the largest realization in Brynwood Partners’ 32-year history, to Clayton, Dubilier & Rice. Clayton, Dubilier & Rice is a well-respected private investment firm with the leadership, capital and vision to take the company to the next level.”
The transaction is slated to be finalised in the second quarter of this year and is subject to regulatory approval. High Ridge Brands, headquartered in Stamford, CT, US, employs roughly 45 employees. It was initially created in 2010 in order to buy the Zest skin cleansing brand from P&G and to act as a platform for future takeovers in personal care.