Gryphon to acquire majority stake in Milani Cosmetics

US-based firm Gryphon Investors is set to purchase a majority stake in Milani Cosmetics, marking its first investment in the beauty sector.

Headquartered in the US, Milani Cosmetics is a family-owned beauty company with a portfolio comprising Milani and Jordana brands. The company supplies face, lip, and eye products to 75 countries worldwide through major retail partners, including Walmart, Walgreens, Ulta and Target stores.

Under the deal, Gryphon Investors’ executive advisor Michelle Taylor will become interim CEO, while Dennis O’Brien, Keith Stimson and Matt Farron will join its board of directors.

Milani’s current owners Ralph Bijou and Laurie Minc will become the president of Jordana Cosmetics and senior advisor of Milani, respectively. Both will also hold significant minority stakes in Milani.

Subject to customary closing conditions, the latest deal is expected to be closed next month.

O’Brien said: “Gryphon has long been exploring the $45bn beauty and personal care space and is excited to commit to the industry.

“Leveraging Michelle’s deep knowledge of the sector, we believe we have identified a strong growth platform in Milani, which has a variety of proven and developing sales channels and the opportunity to reach a broad and growing consumer base that has discovered Milani’s quality and is actively seeking out the brand.”