Advent International has made a strategic investment in Skala Cosméticos, a Brazilian hair care brand that develops 100% vegan products. Details of the investment were not disclosed.
The investment comes from Advent’s $2 billion managed funds dedicated to investments in Latin America, LAPEF VII.
Skala Cosméticos is the fourth largest hair care brand in Brazil and one of the leading brands in the hair mask category.
Cyro Gazola, an executive with experience in the Brazilian consumer goods sector and abroad and former president and CEO of Caloi, has been appointed CEO of Skala.
Antonio Souza, who will remain a shareholder, will join the company’s board of directors.
Rafael Patury, a managing director in Advent’s São Paulo office and co-head of the firm’s consumer and retail practice in Latin America, said, "Maria Claudia Lacerda, Antonio Sousa and the Skala team have built a strong brand, recognized for its ability to produce high-quality products that have a dedicated and connected customer base. We are excited to partner with the Skala team and build upon the success it has established in its home market to new customers and markets worldwide.”
Antonio Sousa, previous CEO of Skala, said, "Our partnership with Advent will help accelerate Skala’s growth in both domestic and international markets, while allowing us to advance important agendas such as operational excellence and innovation at scale. We are proud of the brand recognition we have built in Brazil, as well as the high caliber of products we are able to provide our customers and are excited to work with Advent on our next chapter of growth.”
Gazola said, "I am thrilled and honored to have the opportunity to serve as the next leader of Skala. Under the guidance and visions of Maria and Antonio, the Skala team has established a brand that resonates with customers and is notable throughout the beauty and cosmetics industry, and I am confident that the momentum to date will position us for a future that is poised for growth, including expanding into underserved relevant channels to further bolster sales. I very much look forward to collaborating with the board, our entire team and our new partners at Advent, whom I believe will provide significant resources and support to help the company realize its full potential.”
