The transaction comprises three direct-to-consumer brands: HelloBody, Banana Beauty and Mermaid+Me, which are mostly sold in Europe.
The three brands offer premium beauty care products and they also address the growing trend of sustainable and clean beauty. HelloBody is active in the skin, body and hair care categories, Mermaid+Me focuses on hair care products. Banana Beauty offers decorative cosmetics such as lipsticks and eyeliners.
In the last twelve months as of June 2020, the businesses generated total sales of around 100 million euros and employed around 180 people, including an experienced incubator team with a strong track record of launching new D2C brands.
The three D2C brands capture more than 1.5 million active consumers and should significantly strengthen Henkel Beauty Care’s digital footprint.
“With this acquisition we will strengthen our portfolio with fast-growing premium brands in attractive categories. Through 1:1 interactions with consumers we will gain valuable insights that will help us to create meaningful innovations for the entire retail business,” said Jens-Martin Schwärzler, Executive Vice President and responsible for Henkel’s Beauty Care business.
The remaining 25 percent stake in the business will stay with the founders of Invincible Brands Holding - Bjoern Keune and Gennadi Tschernow - and private equity fund manager capital D. The founders and existing management team will remain onboard to further expand the existing as well as establishing new businesses.
The agreement, the financial terms of which were not disclosed, is subject to customary closing conditions, including regulatory approvals.