JD Beauty Announces Merger With Goody Products
ACON Investments, owners of Goody since their purchase from Newell Brands in August 2018, has signed a definitive agreement to buy a controlling interest in JD Beauty from Topspin Partners, a consumer-focused private equity firm, and will combine the businesses.
The companies will merge to form a powerful multi-brand diversified haircare accessory, liquid and tool company uniquely poised to serve the beauty industry.
Jeffrey Davidson, CEO of JD Beauty, will become CEO of the combined entities upon closing. “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,” says Jeffrey. “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…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.”
Ken Brotman, Founding and Managing Partner at ACON commented, “The combination of JD Beauty and Goody creates a formidable supplier within the industry. We look forward to working with Jeffrey and the entire JD Beauty and Goody teams to continue a growth trajectory for the integrated company.”
“JD Beauty is an exceptional and innovative platform that has redefined the haircare industry. Over the past three years, Jeffrey and the team have grown the company from its single product beginnings in detangling brushes into a multi-category, multi-channel platform,” says Leigh Randall, Managing Partner at Topspin Partners. “We are confident that JD Beauty will continue its growth under ACON and we wish the JD Beauty team the very best in their next chapter.”
The transaction is expected to close in late March 2019.