The beauty company, which was spun off from former parent Coty last year and is now under the ownership of private equity firm KKR, acquired the hair care brand for an undisclosed sum. Briogeo, a “clean” hair care brand, was founded by Nancy Twine in 2013 and has gained a following in recent years for its products, which are formulated to serve specific hair needs and types, like its ‘Don’t Despair, Repair,’ line for damaged hair. Twine will remain Briogeo’s chief executive, and will also have a seat on Wella’s leadership team.
Wella had been seeking out potential acquisition opportunities, but “we really wanted to make sure that it was a company that was growing faster than us,” said Annie Young-Scrivner, Wella’s chief executive.
She added that Briogeo’s expertise area complemented where Wella lacks: Briogeo is a ‘clean’ hair care brand that’s sold in prestige retail spaces, like Sephora and Revolve, both areas Wella is looking to grow as the so-called skin-ification of hair continues. Briogeo, on the other hand, has not yet entered salons, an area Young-Scrivner said Wella will help it expand.
Under Wella’s umbrella, Briogeo will have access to the company’s research and innovation capabilities and teams. Priorities going forward will be expanding Briogeo’s international footprint, as well as growing its product line and getting it into new spaces, like salons.
The acquisition is the first for Briogeo under KKR’s ownership and Scivner-Young said Wella is open to bringing more brands into the company’s fold if they make sense within the portfolio.
“We are going to be a player that only not only grows in the colour segment, but also in care,” she said. “We’ll continue to keep our eyes open, but we don’t have to buy anybody.”
Sales of high-end hair products grew 32 percent in 2021 and more brands are debuting science-backed scalp serums and hair repair treatments in response to customer demand.