Consumer-focused private investment firm Bansk Group has announced the acquisition of a majority stake in hair care brands amika and Eva NYC. This marks the firm’s second and third acquisitions in the beauty category, following its 2020 acquisition of Ethique, a plastic-free and vegan-based beauty and wellness brand.
“We are excited to partner with brands that share our vision for the future of the beauty and haircare industry,” said Chris Kelly, Partner at Bansk Group, in a statement. “Consumer interest in high-quality hair care has accelerated in recent years, following the premiumization trends we have seen in other beauty and personal care categories. Today’s hair care consumers are increasingly passionate and educated about the quality of the haircare products they use – and how those products are formulated – driving exciting growth opportunities in prestige and masstige hair. Both amika and Eva NYC have built distinctive brands founded on proven efficacy, sustainability, and inclusivity, and are leaders in driving and celebrating innovation and diversity – well positioning them to capture this growth.”
Both amika and Eva NYC are sustainably-focused brands with a focus on giving back to the community. Both brands intend to achieve B Corporation certification, a designation that a business is meeting high standards of verified performance, accountability, and transparency. Ethique is B Corp, certified as well.
Eva NYC and amika will continue to operate as individual brands under their respective brand presidents, Jane Moran and Chelsea Riggs. In partnership with Bansk Group, the hair care brands seek to expand their reach across channels, customers, and geographies, on top of continuing to makes strides in sustainability and innovation in the world of beauty.
“We are thrilled to join forces with Bansk to build on our momentum and accelerate the reach of our mission of friend to hair, hairstylist, people, and the planet in North America and international markets,” said Chelsea Riggs, amika Brand President, in a statement. “Since inception, amika has pushed the boundaries of beauty to create the very best products that are also accessible, responsible, and beloved by both professionals and consumers. We are confident that the brand will continue to excel with Bansk’s support and guidance.”
“Today’s announcement is a testament to our steadfast commitment to creating a high-quality product and sustainability-focused brand that our consumers love,” said Jane Moran, Eva NYC Brand President, in a statement. “We look forward to our new partnership with Bansk and leveraging their expertise to take Eva NYC to new heights.”