JD Beauty Co. has announced a merger with Goody Products.
ACON Investments, which has owned Goody since purchasing the company from Newell Brands in August 2018, has signed a definitive agreement to buy a controlling interest in JD Beauty from Topspin Partners II and its affiliates.
JD Beauty’s brands include WetBrush, Bio Ionic hair styling tools and Ouidad hair care. The combined businesses will create a multi-brand, diversified hair care, accessory, liquid and tool company.
“This is an exciting day for us and the beauty industry. Together we can better serve both the professional and consumer beauty industry, with game changing product development capabilities, dynamic marketing initiatives, and best-in-class sales support and customer service,” said Jefferey Davidson, CEO of JD Beauty. Upon closing, Davidson will become CEO of the combined entities.
He continued: “This transformational acquisition will combine one of the fastest growing companies in the beauty industry with one of the country's most iconic and trusted beauty brands, Goody. Over the course of our partnership with Topspin Partners, we grew significantly through the launch of several new product lines, expanded distribution capabilities and the completion of strategic add-on acquisitions. We strongly believe this growth can continue through a partnership with ACON and Goody which will provide us with access to additional resources to build and accelerate our platform.”