Private fairness agency Bansk Group entered right into a definitive settlement to amass a majority stake in Amika and Eva NYC, two of the fastest-growing scaled unbiased hair care manufacturers within the US. Terms of the transaction weren’t disclosed.Founded in 2009, Amika is among the largest unbiased haircare manufacturers within the US. Based in Brooklyn, the corporate touts a spread of fresh and extremely efficient portfolio of haircare merchandise and instruments. Later this yr, Amika will obtain the Clean at Sephora seal throughout its complete Sephora assortment, becoming a member of as solely the third skilled haircare model to qualify.Founded in 2012, Eva NYC has turn out to be 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 value 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 substances. 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 trade, 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 turn out to be B Corps.
Brand Leadership
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 broaden their attain throughout clients, channels, and geographies, whereas persevering with to be trade leaders in sustainability, efficacy, and innovation.“We are excited to associate with manufacturers that share our imaginative and prescient for the way forward for the wonder and haircare trade,” mentioned Chris Kelly, Partner at Bansk Group. “Consumer curiosity in high-quality haircare has accelerated lately, following the premiumization developments now we have seen in different magnificence and private care classes. Today’s haircare shoppers are more and more passionate and educated concerning 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 pal 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 perfect merchandise which can be additionally accessible, accountable, and beloved by each professionals and shoppers. We are assured that the model will proceed to excel with Bansk’s help and steerage.”“Today’s announcement is a testomony to our steadfast dedication to making a high-quality product and sustainability-focused model that our shoppers love,” mentioned Moran, Eva NYC model president. “We sit 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.
https://www.happi.com/contents/view_breaking-news/2022-05-13/bansk-group-acquire-majority-stake-in-indie-haircare-brands-amika-and-eva-nyc
