Henkel to Acquire Devacurl
Henkel has signed an agreement to acquire Deva Parent Holdings, owner of the professional haircare brand DevaCurl, from its private equity owners Ares Management Corporation. The premium curly hair care and styling brand offers a comprehensive range of products, including vegan and ‘free-from’ formulas and is distributed in the US via salons and selective retailers such as Ulta and Sephora. Sales for Devacurl are expected to hit US$100 million this year.
“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’ hair care brands in the US. 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,” adds Jens-Martin Schwärzler – Executive Vice President and responsible for Henkel’s Beauty Care business.