In a move to strengthen its U.S. Beauty Care business, German consumer goods conglomerate Henkel has signed an agreement to acquire DevaCurl (Deva Parent Holdings, Inc.), owned by private equity group Ares Management.
Founded in 1994, DevaCurl is a fast-growing, category-leading brand that offers premium haircare and styling products for all types of curly and wavy hair with a comprehensive portfolio of vegan and “free from” formulas. The product range includes cleansers, conditioners, styling products, styling accessories and treatments. The ‘Premium Professional’ products of DevaCurl are distributed in the U.S. in leading salons. They are also available at selective retailers like Ulta and Sephora, as well as through direct-to-consumer and eCommerce platforms. 2019 sales are expected to reach $100 million, mostly in the U.S. market.
DevaCurl enhances Henkel's Beauty Care professional haircare portfolio and provides access to an attractive distribution model. “This acquisition is part of our strategy to expand our position in attractive and fast-growing markets and categories. It will complement and further strengthen our Hair Professional business,” said Henkel CEO Hans Van Bylen. “DevaCurl is one of the fastest-growing ‘Premium Professional’ haircare brands in the U.S. The brand is a perfect fit for our Beauty Care business and will reinforce the growth momentum of our Hair Professional portfolio in the world’s largest hair professional market,” added Jens-Martin Schwärzler, executive vice president and head of Henkel’s Beauty Care business.
“We are grateful for the opportunity to have partnered with DevaCurl’s outstanding management team,” said Dennis Gies, partner at Ares Management. “We are proud to have supported the company during its significant growth over the past two and a half years and are delighted that they found the right partner in Henkel to support the company in the years ahead.”