Private fairness agency Bansk Group entered right into a definitive settlement to accumulate a majority stake in Amika and Eva NYC, two of the fastest-growing scaled impartial hair care manufacturers within the US. Terms of the transaction weren’t disclosed.Founded in 2009, Amika is among the largest impartial haircare manufacturers within the US. Based in Brooklyn, the corporate touts a variety of fresh and extremely efficient portfolio of haircare merchandise and instruments. Later this 12 months, Amika will obtain the Clean at Sephora seal throughout its total Sephora assortment, becoming a member of as solely the third skilled haircare model to qualify.Founded in 2012, Eva NYC has change into one of many quickest rising masstige haircare manufacturers within the US. The model is dedicated to delivering high-quality merchandise with confirmed outcomes at accessible worth factors, and is the one masstige model with an aluminum packaging portfolio that’s 100% recyclable, licensed cruelty-free, vegan, non-GMO, and freed from dangerous elements. Eva NYC has achieved all 5 pillars of Ulta’s Conscious Beauty accreditation in addition to Target Zero accreditations. Further underpinning its dedication to main environmental initiatives within the haircare business, Eva NYC is the primary hair model to implement a styling software recycling program with TerraCycle.Both manufacturers are Climate Neutral Certified and sustainably-minded and plan to change into B Corps.
Upon the shut of the transaction, Amika and Eva NYC will proceed to function as particular person manufacturers underneath their respective model presidents, Chelsea Riggs and Jane Moran. In partnership with Bansk Group, the manufacturers will search to increase their attain throughout clients, channels, and geographies, whereas persevering with to be business leaders in sustainability, efficacy, and innovation.“We are excited to accomplice with manufacturers that share our imaginative and prescient for the way forward for the wonder and haircare business,” mentioned Chris Kelly, Partner at Bansk Group. “Consumer curiosity in high-quality haircare has accelerated lately, following the premiumization tendencies now we have seen in different magnificence and private care classes. Today’s haircare customers are more and more passionate and educated in regards to the high quality of the haircare merchandise they use – and the way these merchandise are formulated – driving thrilling development alternatives in status and masstige hair. Both amika and Eva NYC have constructed distinctive manufacturers based on confirmed efficacy, sustainability, and inclusivity, and are leaders in driving and celebrating innovation and variety – effectively positioning them to seize this development.”“We are thrilled to affix forces with Bansk to construct on our momentum and speed up the attain of our mission of good friend to hair, hairstylist, individuals, and the planet in North America and worldwide markets,” mentioned Riggs, Amika model president. “Since inception, amika has pushed the boundaries of magnificence to create the easiest merchandise which can be additionally accessible, accountable, and beloved by each professionals and customers. We are assured that the model will proceed to excel with Bansk’s assist and steering.”“Today’s announcement is a testomony to our steadfast dedication to making a high-quality product and sustainability-focused model that our customers love,” mentioned Moran, Eva NYC model president. “We stay up for our new partnership with Bansk and leveraging their experience to take Eva NYC to new heights.”Amika and Eva NYC would be the agency’s second and third acquisitions within the magnificence class, following the agency’s 2020 acquisition of Ethique.