Tengram Capital Partners has sold HRB Brands to Sodalis Group
HRB Brands
HRB Brands (HRB) is one of the leading independent branded personal care platforms in North America. Its portfolio includes a leading hair care and skin cleansing business comprised of 20 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 products are present in more than 30 million households across the Americas, with deep consumer loyalty for their quality at accessible price points. Headquartered in Westport, Connecticut, HRB is committed to delivering extraordinary experiences to savvy consumers. For more information, please visit https://www.hrbbrands.com/.
The Deal
Tengram Capital Partners (Tengram) acquired HRB in April of 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. Lincoln International introduced Sodalis Group (Sodalis) to HRB during the 2023 Consumer Conference. The logic for a combination was apparent and as management continued to execute HRB’s strategy and drive growth, Lincoln maintained an active dialogue between the two sides. In 2024, Tengram hired Lincoln to seek strategic alternatives for the business, including trying to formalize the dialogue with Sodalis. Lincoln managed an efficient process and effective negotiations between the two sides, while providing valuation guidance and market intelligence to Tengram. As Sodalis partners with HRB’s management to drive the next stage of evolution for the company, it brings a like-minded approach to growth, complementary product and marketing capabilities and the expertise to accelerate growth both organically and through acquisitions.
Our Perspective
Riccardo Cazzoli, Lincoln International Managing Director who led the transaction, commented, “Working with Tengram and HRB has been a truly rewarding experience. They have done a tremendous job at growing the business by nurturing their iconic brands through quality and superior consumer experiences. We are honored to have contributed to this successful outcome and believe that Sodalis is the perfect partner for HRB and its management team. We look forward to watching Sodalis’ next chapter unfold as they enter the American market.”
Tengram Capital Partners
Tengram and its predecessor and successor, Windsong Global, are private equity firms exclusively focused on investments in leading middle market consumer companies that own strong recognizable brands. The team has a diverse background of consumer investing and in-house operating expertise that assists and guides company management to unlock the true potential of their brands. Tengram and Windsong invest in traditional growth, but also in restructuring/turnaround and carve-out situations. Other investments, current and past, include Robert Graham, Joes Jeans, Hudson Jeans, Algenist Beauty, Revive Beauty, Tommie Copper Wellness, DevaCurl Haircare, NEST Fragrances, JVN Beauty, Martha Stewart, Jessica Simpson, Pipette Baby and Cos Bar. For more information, please visit http://www.tengramcapital.com or http://www.windsongglobal.com.
Sodalis Group
Sodalis is committed to creating well-being through the quality, research and innovation of its brands, particularly in health and beauty, along with personal and home care. Today, Sodalis is the Italian leader in the cosmetics and nutraceuticals market and one of the main independent European players in personal care. Active for more than 30 years and always owned by an Italian family, it is a continuously expanding, multi-brand and multi-channel, dynamic and international business reality. The group has achieved solid and progressive growth, thanks to the ability to integrate and develop new businesses. Sodalis is the home of more than 20 highly attractive and recognized proprietary brands, with strong positions in pharmacies, large-scale retail trade, e-commerce and perfumeries. The team is made up of more than 1,900 people and is headquartered in Lodi, Italy, with five international branches, offices in France, Germany, Portugal and Spain, five research laboratories and five production sites in Italy, France and Germany.
We hired Lincoln based on their knowledge of the industry and relationships with key industry participants. They’ve done an excellent job at working with management to showcase what makes HRB Brands unique and successful. Their strategic advice was instrumental in negotiating the right transaction, as they effectively navigated our needs and the ones of Sodalis.
Meet our Senior Team
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Any information or testimonials contained in this post may not be representative of the experience of other clients and is no guarantee of future performance or success.