Tengram to acquire Revive luxury skincare brand from Shiseido Americas
Cosmetic industry news : Private equity firm Tengram Capital Partners has agreed to acquire RéVive, a luxury skincare brand from Shiseido Americas Corporation for an undisclosed price.
Shiseido Americas is a subsidiary of Japanese personal care company Shiseido.
The sale of the luxury skincare brand comes a year after it was bought by Shiseido Americas as part of its Gurwtich Products acquisition from Alticor.
Marc Rey, the President & CEO of Shiseido Americas said: “RéVive is a wonderful skincare brand. We are confident it will be well supported by Tengram while Shiseido focuses on continuing growth across our strategic portfolio of brands and businesses.”
Tengram Capital Partners, on the other hand, says that there is a strong growth potential in the RéVive luxury skincare products which are based on a technology that had bagged the Nobel Prize.
ReVive luxury skincare product. Photo courtesy of ReVive Skincare.
RéVive is set to join the growing portfolio of beauty brands of Tengram Capital which includes beauty brand Algenist, luxury specialty beauty retailer Cos Bar and natural beauty brand This Works.
As per the terms of the deal, the luxury skincare brand will be operated as an independent and stand-alone entity. RéVive business will be based in New York City and will be headed by Elana Drell Szyfer, who was the CEO of the cosmetic business Laura Geller New York, which was divested last year by Tengram.
Elana Drell Szyfer said: “RéVive has always been known for the quality and efficacy of its products. Its performance and positioning is well poised to appeal to a discerning skincare consumer domestically and internationally via both current and new channels of distribution.”
Commenting on the Tengram acquisition of RéVive, Richard Gersten, a partner at the private equity firm, said: “As an investor in consumer brands with a deep knowledge in beauty, I have watched RéVive for a long time.
“We believe it is a gem, thanks to Founder Dr. Gregory Bays Brown, its exceptional products based on Nobel prize-winning technologies, a loyal consumer following, and its impressive distribution. The RéVive brand has strong growth prospects, and we look forward to investing in key areas to enable the brand to thrive.”
Shiseido Americas stated that it will continue to provide supply chain, distribution as well as other support services of RéVive until the sale of the luxury skincare brand to Tengram is completed.
Tengram acquisition of RéVive is anticipated to be closed by the month end.
For more cosmetic industry news, keep following Business-News-Today.com.