In late 2020, Coty sold a 60 per cent stake in Wella to a joint venture company controlled by KKR, the US global investment giant which recently made a $20 billion bid for Ramsay Health Care, the largest operator of private hospitals in Australia.

KKR and Coty announced their intention of launching an IPO (initial public offering) for Wella in March as demand for hair salon services and professional haircare worldwide continues to soar post-pandemic.

in its first portfolio expansion as an independent company, Wella has inked a deal to acquire Briogeo, one of the largest Black-owned hair brands in the US. Terms of the deal were not disclosed.

One of the fastest-growing haircare brands in the US and available in 100 countries, including Australia, Briogeo was launched in 2013 by entrepreneur Nancy Twine. The clean and natural brand is sold exclusively in Sephora in the US and Mecca in Australia and also online in both countries.

Annie Young-Scrivner, CEO of Wella,  revealed that the company’s business is growing in double digits. Briogeo has global net sales of US$100 million a year and is growing at an even faster rate.

The new ownership will fast-track Briogeo’s international expansion, notably in Europe and Asia, as a front runner in clean and natural haircare. Product development will also be accelerated, fuelled by Wella’s R&D centres worldwide.

The strength of Wella Company’s research and development, digital marketing and global operations, and their ability to reach 91 million hair and nail professionals and followers they serve and support will take our Briogeo brand to the next level, adds Twine.

“This is a significant strategic partnership for both sides, and one that is compatible in ambition, philsophy and culture. In Wella Company we have a committed partner to help our business and our employees reach the next level of growth.”

Briogeo has won a Best of Beauty Award from Allure, the prestigious American beauty publication, every year since 2018. Nancy Twine has also scooped up numerous accolades, including the Cosmetic Executive Women (CEW) Female Founder Award in 2019. She was also listed in Entrepreneur magazine’s 100 Women of Impact 2021 rankings.

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