Alan T. Ennis, former president and CEO of Revlon Inc., and Warburg Pincus, a global private equity firm that previously expressed interest in P&G brands, have formed Glansaol, a new prestige beauty and personal care company. The new firm has confirmed that it is acquiring Laura Geller, Julep and Clark's Botanicals for undisclosed sums.
The firm is already considering further acquisitions, which is in line with today's active beauty M&A environment.
Laura Geller, Julep and Clark's Botanicals were Glansaol's inaugural acquisitions because of their "inspirational founders, high quality products and unique position within the marketplace," according to the company.
"I am delighted to be taking this first bold step. Each of the three brands we are acquiring today plays a specific and important role in our portfolio and will retain their individual brand autonomy and culture."
The purchases give Glansaol a foothold in prestige color cosmetics (Laura Geller New York and Julep), prestige skin care (Julep and Clark's Botanicals) and omnichannel expertise (Julep).
Glansaol (pronounced glan-sale), which means "pure life" in the Irish language, has a management team comprising:
- Alan T. Ennis, president and CEO
- Martine Williamson , CMO and EVP
- Elana Drell-Szyfer, CEO, Laura Geller and SVP, Glansaol
- Laura Geller, founder, Laura Geller and SVP, Glansaol
- Jane Park , founder and CEO, Julep, and SVP, Glansaol
- Francesco Clark, founder and CEO, Clark’s Botanicals
"I believe that our unique long-term view of building the next great beauty company, is appealing to both brand owners and the capital markets."
"Our objective is to build Glansaol into a world-class, global beauty and personal care company by acquiring, integrating, and growing a portfolio of premium, complementary brands, managed by a team of seasoned executives," said Ennis. "I am delighted to be taking this first bold step. Each of the three brands we are acquiring today plays a specific and important role in our portfolio and will retain their individual brand autonomy and culture. I believe that our unique long-term view of building the next great beauty company, is appealing to both brand owners and the capital markets."
"We look forward to investing behind Glansaol as it makes additional acquisitions of complementary brands over time."
"We are excited to support the acquisition of these three strong and growing brands with diversified demographics, and believe they will benefit from enhanced scale, marketing and distribution capabilities as part of the Glansaol platform," said Annette Rodriguez, managing director, Warburg Pincus. "Alan, along with Martine Williamson, Glansaol chief marketing officer, bring invaluable insights into beauty and personal care, and we see meaningful opportunities for growth and expansion. We look forward to investing behind Glansaol as it makes additional acquisitions of complementary brands over time."
"I am greatly looking forward to the next phase of growth for the business,"
"The idea that Glansaol means "pure life" really resonated with me. Together, we will create something better, bigger, and stronger. I am greatly looking forward to the next phase of growth for the business," said Laura Geller, Founder of Laura Geller.
Elana Drell-Szyfer, CEO at Laura Geller, said, "I have known Alan for several years and have great respect for him, both personally and professionally. His broad knowledge of all facets of the industry and strong belief in brands makes him and the Glansaol team a powerful new force to be reckoned with in the industry."
"...Glansaol is the right partner to take this great brand to the next level."
Rich Gersten, partner at Tengram Capital, who acquired a majority stake in the Laura Geller brand in 2012, said, "It has been an absolute pleasure working with the Laura Geller team over the last four years. I am confident that Glansaol is the right partner to take this great brand to the next level."
"...Julep will be able to realize its potential."
"I'm thrilled to be joining forces with Glansaol," said Jane Park, founder, Julep. "This new venture will enable us to continue on our path of rapid growth and social innovation. There is really no other vehicle in beauty that exists today like Glansaol, and I am confident that through the collaboration and with their deep beauty and operational knowledge, Julep will be able to realize its potential."
"I knew Glansaol would be the only fit for Clark's Botanicals because they are more than just a business plan..."
"Ultimately, all the Glansaol brands will benefit from each other's individual strengths," said Francesco Clark, founder, Clark's Botanicals. "I knew Glansaol would be the only fit for Clark's Botanicals because they are more than just a business plan; they have a strong and clear long term vision for supporting brands and want products that actually work and in which people believe."
