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Tengram signs on for RéVive purchase
Posted on Monday, 13 November 2017 14:49
Private equity investor Tengram Capital Partners is picking up US luxury skincare brand RéVive.
No financial details of the transaction have been disclosed at this time.
Completion of the acquisition is expected to follow by the end of November, at which time RéVive will continue to operate as an independent, standalone business.
Tengram Capital partner Richard Gersten was full of praise for the target and its strong growth prospects, saying its continued expansion would be one goal following the investment.
Shiseido Americas, current owner of RéVive, will continue to offer supply chain, distribution and other support services during the transition period.
The vendor’s chief executive, Marc Rey, said the firm will now concentrate on continuing growth across its strategic portfolio of brands and businesses.
Shiseido Americas has owned the target since July 2016; it bought the business as part of its acquisition of New York-headquartered cosmetic, skincare, body and bath and fragrance products manufacturer Gurwitch Products from Alticor.
RéVive was founded in 1997 and its products are now sold at big-name retailers such as Neiman Marcus, Saks, Bergdorf Goodman and Barney’s.
The company’s purchase by Tengram is not the first time this year that a private equity firm has targeted a toilet preparation manufacturing company worldwide; according to Zephyr, the M&A database published by Bureau van Dijk, 29 such deals have been announced since January.
Of these, the most valuable was worth USD 1.00 billion as CVC Capital Partners agreed to pick up US-headquartered Parfums de Coeur back in June.
This was followed by a USD 190.00 million buyout of Obagi Medical Products by China Regenerative Medicine International, which was announced in July and closed late last week.
Others in the sector to have been targeted since the beginning of this year include Vini Cosmetics, Yes To Inc. and Madison Reed.
© Zephus Ltd