ACON Investments has agreed to acquire Goody Products, a manufacturer of hair styling tools and accessories, from Newell Brands.
Goody sells its products through retailers worldwide, including North America, Latin America, Europe and Asia. The company was founded by Henry Goodman in 1907 and originally sold rhinestone-studded hair combs out of a pushcart. Goody was acquired by Newell Brands in 1993. The company is headquartered in Atlanta (www.goody.com).
“This is an exciting day for Goody, and I’m excited for the team to grow with ACON,” said Kim Hoelting, General Manager of Goody. “I am confident that ACON will help us build on a century of success and continue to grow our business.”
“We are excited to be able to give Goody the focus and resources it deserves to prosper as one of the leading brands in its segments. We plan to leverage our experience to build iconic brands through product innovation and enhanced distribution to continue the company’s growth trajectory,” said Suma Kulkarni, a Partner at ACON.
ACON Investments invests in middle-market companies in the United States and Latin America. The firm was founded in 1996 and has $5.3 billion of capital under management. ACON has offices in Washington, DC (headquarters), Los Angeles, São Paulo, Bogotá and Mexico City (www.aconinvestments.com).
Newell Brands (NYSE: NWL) is a global consumer goods company with a large portfolio of well-known brands, including Paper Mate, Sharpie, Parker, Elmer’s, Coleman, Jostens, Rawlings, Oster, Sunbeam, Mr. Coffee, Baby Jogger, Calphalon, and Rubbermaid among many others. The company is based in Hoboken, NJ (www.newellbrands.com).
© 2018 Private Equity Professional | August 13, 2018