Henkel is poised to acquire DevaCurl
Personal care brand Henkel is strengthening its portfolio and tapping into the curly hair market, with the acquisition of DevaCurl.
The German beauty company has signed an agreement to acquire Deva Parent Holdings, Inc., which owns the professional hair care label that specializes in products for curly and wavy tresses. The brand, which was founded in 1994, is known for its range of cleansers, conditioners, styling products, accessories and treatments, boasting vegan and "free from" formulas.
"DevaCurl is one of the fastest-growing ‘Premium Professional' hair care brands in the US," said Jens-Martin Schwärzler, Executive Vice President and responsible for Henkel's Beauty Care business, in a statement. "The brand is a perfect fit for our Beauty Care business and will reinforce the growth momentum of our Hair Professional portfolio in the world's largest hair professional market."
DevaCurl, which is expected to generate sales of around 100 million US dollars in 2019, is the latest in a string of high-profile acquisitions by Henkel. The company, which owns Schwarzkopf and Dial, acquired a 51 percent stake in the LA-based eSalon.com, which specializes in creating personalized hair dye formulas designed for at-home application, earlier this year. It also launched the vegan brand Nature Box, which focuses on cold-pressed oils, vegan formulas and certain sustainably-sourced ingredients, in January.