a portfolio company of
has been acquired by
Cascadia Capital, an investment bank serving middle market clients globally, today announced it acted as financial advisor to HRB Brands (“HRB”), a personal care products portfolio company of Tengram Capital Partners, in its acquisition by Sodalis Group (“Sodalis”), a European-based beauty and personal care platform.
HRB is a leading hair care and skin cleansing business comprised of twenty iconic and well-known brands including Alberto VO5®, Zest®, Coast®, Brut®, Pert®, Sure®, Zero Frizz®, Rave®, SGX NYC®, and Thicker Fuller Hair®, among others. HRB’s brands are present in over 30 million households across the Americas and enjoy deep consumer loyalty for their quality at accessible price points.
Tengram acquired HRB in April 2020. During Tengram’s ownership, HRB completed four strategic transactions, expanding its geographic footprint to Latin America and adding to its brand portfolio. In addition, HRB made significant investments in management, operational infrastructure, and service offerings to extend its market leadership and drive strong growth.
Sodalis is an Italian health, beauty, and personal care company that has completed more than 20 acquisitions in the last 20 years and now operates a portfolio that includes Biopoint, Leocrema, Dermolab, Tesori D’Oriente, Noxzema and Brelil, among others.
Jim Daniels, CEO of HRB commented, “Becoming part of the Sodalis Group provides a very exciting new chapter for us. Our combined teams are already working well together to leverage each other’s talents and brand portfolios to rapidly grow our combined European, North and Latin American businesses. We are excited to channel our experience to set a new path within the Sodalis galaxy towards ever more ambitious goals.”
Fabio Granata, CEO of Sodalis Group, said: “With this acquisition, what seemed like a crazy dream becomes reality – Sodalis enters the American market with a direct affiliate. It is a great transformation for our company, born in a small Italian province, now expanding to the United States market. We believe in an important growth plan for Sodalis USA both for the evolution of the current business and as a great platform to launch our European power brands in North America and South America and to complete new acquisitions.”
William Susman, Cascadia Managing Director, added: “We are thrilled to have advised Tengram and HRB on this transformative transaction with Sodalis. The combination of HRB and Sodalis now represents a best-in-class personal care platform with a global presence. We are excited to see what the two teams will accomplish together.”