DevaCurl, the professional hair care brand formulated for curly strands, has been purchased by Henkel for an undisclosed amount. Sales of DevaCurl are expected to reach $100 million in 2019, most of which is generated in the U.S. The acquisition looks to bolster Henkel’s U.S. footprint and broaden its product portfolio in the specialty segment of curly, wavy and textured hair. Private equity firm Ares Management acquired DevaCurl from Tengram Capital in May 2017.
Earlier this year Henkel entered into a joint venture with LA-based hair color personalization firm, eSalon. The deal looks to strengthen its hair color portfolio and expand its digital business.
Founded in 1994 by Denis DaSilva and Lorraine Massey, DevaCurl today includes a product range that spans cleansers, conditioners, styling products, styling accessories and treatments. DevaCurl products are distributed in U.S. salons, Ulta Beauty and Sephora, as well as through direct-to-consumer and ecommerce platforms company employs around 200 people.
Robert Schaeffler, DevaCurl’s CEO, joined DevaCurl in December 2018. He formerly served as General Manager of Henkel Professional North America, managing hair care brands such as Sexy Hair and Kenra Professional. In an interview with CEW Beauty News earlier this year, Robert said he was most excited about growing the company’s international expansion. “We are already the number-one curly hair brand in the U.S., and we want to continue to build on our successes stateside as well as grow the brand internationally,” he said.
Robert will stay on with the company and report to Stefan Mund, Regional Head, Henkel Beauty Care Professional North America.
The agreement is subject to customary closing conditions, including regulatory approvals.