Glansaol signs agreements to acquire three beauty brands

Beauty and personal care startup firm Glansaol has signed agreements to acquire beauty brands Laura Geller, Julep, and Clark's Botanicals.

Glansaol is a result of a collaboration between former president and chief executive officer of Revlon Alan T. Ennis and private equity company Warburg Pincus.

While the acquisition of Laura Geller is closed, Julep and Clark's Botanicals transactions are expected to complete shortly.

Glansaol's president and chief executive officer Alan T. Ennis said: "Our objective is to build Glansaol into a world-class, global beauty and personal care company by acquiring, integrating, and growing a portfolio of premium, complementary brands, managed by a team of seasoned executives.

"I am delighted to be taking this first bold step. Each of the three brands we are acquiring today plays a specific and important role in our portfolio and will retain their individual brand autonomy and culture.

"I believe that our unique long-term view of building the next great beauty company, is appealing to both brand owners and the capital markets."

Founded in 1997, Laura Geller is a colour cosmetics brand and develops easy-to-use, dual-purpose products such as multi-tasking powders.

Julep is a an omni-channel colour cosmetics and skincare brand established by Jane Park. The brand also operates four nail parlours in Seattle, US.

Founded in 2008 by Francesco Clark, Clark's Botanicals is a skincare brand, which manufactures products containing a proprietary, rebalancing ingredient Jasmine Absolute.

While retaining a brand's uniqueness, Glansaol also collaborates together on innovation, research, and ideas across brands.

Financial details of the acquisition have not been disclosed.