Posted by Georgina Caldwell | May 9, 2022 | Europe, Finance, Pro Beauty Finance, Professional Beauty |
THE WHAT? Wella Company has announced that it has reached a definitive agreement to acquire Briogeo. Terms of the deal have not been disclosed.
THE DETAILS Hailed as one of the fastest growing hair care brands in the world, and one of the largest Black-owned brands in the US, Briogeo aligns with Wella’s deep commitment to building a company with both diversity, equity and inclusion and environmental, social and governance embedded into its core.
THE WHY? Annie Young-Scrivner, Chief Executive Officer of Wella Company, explains, “Acquiring Briogeo marks Wella Company’s first portfolio expansion as an independent entity. Briogeo’s high-growth, eco-ethical and natural hair care products complement our existing hair portfolio and sustainable offerings and will fuel our growth momentum in the hair category, which is now the fastest growing segment in beauty. I’m proud of the growth our company has achieved so far in just 17 months – and in Briogeo we have found a truly special and complementary partner. Briogeo has been at the forefront of the clean and natural hair revolution since the company started in 2013, and its rise has been nothing short of remarkable. Together we’ll extend our sustainable product offerings even more, expand our premium retail footprint and drive both commercial and social impact to new levels.”
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