The private equity-backed company has signed a deal to buy the Kik Personal Care business from Kik Consumer Products, which makes beauty and household care products, including for the hotel industry. Terms of the deal were not disclosed.
Voyant, backed by Wind Point Partners, makes hair-care, bath and body and skin-care products for brands. The Kik acquisition is meant to broaden the company’s innovation capabilities and product offerings. When the deal closes, Voyant will have 15 manufacturing facilities globally.
“The two businesses are highly complementary in many areas, and this combination will benefit our customers in numerous ways,” said Voyant chief executive officer Richard McEvoy in a statement. “In addition, the acquisition of [Kik Personal Care] will diversify the Voyant Beauty business by adding new customers, unique product categories and aerosol manufacturing capabilities. Moreover, it will expand our manufacturing network and provide entry into hotel guest amenities, a new line of business for us.”
The manufacturing side of the beauty business has attracted a significant amount of interest from private equity firms in recent years, especially from firms wary of betting on a single beauty brand. KCD-One has made a series of acquisitions over the past few years, and Bain Capital invested in Maesa, which makes private label products for places like Ulta, as well as the Kristin Ess Hair and Flower Beauty Brands.
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