Beauty Store Business magazine - June, 2019

JD Beauty and Goody to Merge

JD Beauty, the parent company of WetBrush, Bio Ionic and Ouidad, announced this week that it will merge with Goody Products, an iconic manufacturer of hairstyling tools and accessories.

ACON Investments, the private equity firm that purchased Goody from Newell Brands in August 2018, has signed a definitive agreement to buy a controlling interest in JD Beauty from Topspin Partners, a consumer-focused private equity firm.

The merger of JD Beauty's well-known haircare brands with Goody Products will create a multi-brand, diversified, haircare accessory, liquid and tool company uniquely poised to serve both the professional and consumer beauty industry.

Jeffrey Davidson, CEO of JD Beauty, will become CEO of the combined entities upon closing, which is expected in late March. “This is an exciting day for us and the beauty industry. Together, we can better serve both the professional and consumer beauty industry with game-changing product development capabilities, dynamic marketing initiatives and best-in-class sales support and customer service. This transformational acquisition will combine one of the fastest-growing companies in the beauty industry with one of the country’s most iconic and trusted beauty brands, Goody. Over the course of our partnership with Topspin Partners, we grew significantly through the launch of several new product lines, expanded distribution capabilities and the completion of strategic add-on acquisitions. We strongly believe this growth can continue through a partnership with ACON and Goody, which will provide us with access to additional resources to build and accelerate our platform," Davidson said.

Ken Brotman, founding and managing partner at ACON commented, “The combination of JD Beauty and Goody creates a formidable supplier within the industry. We look forward to working with Jeffrey and the entire JD Beauty and Goody teams to continue a growth trajectory for the integrated company.”

Leigh Randall, managing partner at Topspin Partners added, “JD Beauty is an exceptional and innovative platform that has redefined the haircare industry. Over the past three years, Jeffrey and the team have grown the company from its single product beginnings in detangling brushes into a multi-category, multi-channel platform. We are confident that JD Beauty will continue its growth under ACON, and we wish the JD Beauty team the very best in their next chapter.”

Terms of the transaction were not disclosed.

Photo: Jeffrey Davidson, CEO of JD Beauty