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BOSTON – Yellow Wood Partners has announced that its portfolio company, Suave Brands Company, has acquired the ChapStick brand from Haleon. Due to this transaction, Haleon has become a shareholder in Suave.
Suave is a value-oriented personal care brand that sells products across the hair, body, skin and antiperspirant and deodorant segments. Suave was one of the first brands in the 1930s to bring salon-quality hair care to the general public at an accessible price and is found in one out of every two U.S. households.
Suave Brands CEO, Daniel Alter, said, “As we continue to build Suave Brands Company as the top independent North American beauty & personal care company by combining the agility of a start-up with the power of market leading brands, the addition of ChapStick is a perfect fit that augments our strategy. This transaction is a great example of Suave Brands Company’s disciplined approach to value-creating acquisitions and our larger growth strategy.”
Dana Schmaltz, partner at Yellow Wood Partners, commented, “We see strategic value in combining ChapStick with Suave and as a result of this acquisition, we have expanded Suave’s capabilities and portfolio of products. Our brands have strong equity and a profitable organic growth strategy in place. The combined expertise and resources of Suave and ChapStick will enable us to better serve our customers and consumers and accelerate growth.”
