Pacifica Beauty sells minority stake to Brentwood Associates
[NEW YORK] Pacifica Beauty, a vegan beauty brand, sold a minority stake to private equity firm Brentwood Associates, according to people with knowledge of the matter.
The company is valued at about US$250 million in the transaction, one of the people said, asking not to be identified discussing private information.
Representatives for Pacifica declined to comment. A spokesperson for Brentwood Associates didn't immediately respond to a request for comment.
The number of personal care transactions reached a record last year with US$29 billion worth of deals, according to data compiled by Bloomberg.
Strategic buyers weren't shy about paying big prices for high-growth assets such as hair care. Founded in 1997, Pacifica, which makes natural beauty and skin care products, sold a significant minority stake to Alliance Consumer Growth in 2016, according to a statement.
Los Angeles-based private equity firm Brentwood Associates is also an investor in direct-to-consumer wellness company Hims & Hers Health, which went public through blank-check merger.
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