Bob Bernstein, founder and former CEO of Beauty Brands, has told The Kansas City Star that an unnamed California private-equity firm now has a controlling interest in the regional beauty-retailer chain and two ex-ULTA Beauty executives are now leading the business.
Beauty Store Business posted links on its Twitter and Facebook pages to the Jan. 10 news story the same day that it was published online by the newspaper.
The unspecified investment gives the Kansas City, Missouri-based salon/spa/superstore with 55 brick-and-mortar sites in 11 states [and its www.beautybrands.com website] "a major influx of capital" and poises it for national growth, said Bernstein in the news story.
Former ULTA Beauty president, CEO and director Lyn Kirby is now Beauty Brands chairman of the board and CEO—and she has invested in Beauty Brands.
David Bernstein, Bernstein's son, is no longer Beauty Brands president—and will serve as an as-needed consultant.
Rich Bos, who spent two-plus decades at ULTA Beauty, is now president.
Beauty Brands' headquarters will remain in Kansas City, Missouri, with expanded offices.
The newest Beauty Brands store is in Davenport, Iowa, which opened Dec. 6, 2013.
For the entire news story from The Kansas City Star, click here.
[Image courtesy of Beauty Brands]