Voyant Acquires KIK’s Consumer Products Manufacturing Operation
Jul 1, 2020
Delphine Achard for WWD
Beauty manufacturer Voyant Beauty Holdings LLC is building its business through an acquisition. The private equity-backed company has signed a deal to buy the Kik Personal Care business from Kik Consumer Products, which makes beauty and household care products, including for the hotel industry. Terms of the deal were not disclosed. Voyant, backed by Wind Point Partners, makes hair-care, bath and body and skin-care products for brands. The Kik acquisition is meant to broaden the company’s innovation capabilities and product offerings. When the deal closes, Voyant will have 15 manufacturing facilities globally. “The two businesses are highly complementary in many areas, and this combination will benefit our customers in numerous ways,” said Voyant chief executive officer Richard McEvoy in a statement. “In addition, the acquisition of [Kik Personal Care] will diversify the Voyant Beauty business by adding new customers, unique product categories and aerosol manufacturing capabilities. Moreover, it will expand our manufacturing network and provide entry into hotel guest amenities, a new line of business for us.”
The manufacturing side of the beauty business has attracted a significant amount of interest from private equity firms in recent years, especially from firms wary of betting on a single beauty brand. KCD-One has made a series of acquisitions over the past few years, and Bain Capital invested in Maesa, which makes private label products for places like Ulta, as well as the Kristin Ess Hair and Flower Beauty Brands. For more from WWD.com, see:
The beauty industry says it is ready to enact change. The question, though, is whether its planned efforts are enough to end systemic racism. As the move for racial justice sweeps the globe, beauty companies are reassessing how Black people are represented internally and externally in their corporations. Will their commitment to meaningful change have an impact equal to the size of their consumers' growing voice?Remigio Newton photographed LaShawn Kenley on June 6 at Black Lives Matter Plaza in Washington, D.C. Kenley is the founder and designer of @sungodsofficial, which she describes as a “bohemian-Afro-chic” clothing brand. In fact, it was her dress that first caught the attention of Newton, who spotted Kenley as she was sitting down after getting caught in a rain shower to pick her hair. Kenley says she is actively trying to play a role in making the fashion and beauty worlds more inclusive. “I’m a huge advocate for representation in all cultures, and not just showing one perspective,” she says. “Every day black women are told to morph into what society wants us to be…. We are being told to shrink. I wanted to show up and just be me and protest my way.”Tap the link in bio for more.