North Castle Partners sells Mineral Fusion cosmetics brand to BWX

US-based equity firm North Castle Partners has sold its Mineral Fusion Natural Brands to BWX.

BWX acquired the brand for a cash consideration of $38.4m in addition to a potential earn out of $4.6m.

The company develops, manufactures, and distributes personal care products under various brands such as Sukin, Mineral Fusion, DermaSukin, Uspa, Edward Beale, and Renew Skincare.

Following the acquisition, BWX will continue to assess further opportunities in line with its strategy of growing the business on a global scale.

A cosmetics and personal care brand, Mineral Fusion currently has a product portfolio of antioxidant-enhanced, mineral-rich cosmetics, haircare, bodycare, skincare, and nailcare items. Free from parabens, artificial fragrance and syntheticdyes, the range is also claimed to be phthalate free, 100% vegan, and certified cruelty free.

The products are available at around 3,000 stores and online through the company's own e-commerce website. It is also available through third-party digital retailers and distributes internationally.

With the latest sale, North Castle Partners has completed its fourth investment in the personal care segment. The company's managing director Jon Canarick said: “Our investment in Mineral Fusion reflects the benefits of focus and partnership as a means to growing small brands into leading companies.

“Building on North Castle’s historical experience in the category, Mineral Fusion grew from a single customer cosmetic brand into the leading natural brand of mineral-based personal care products across multiple categories, including colour cosmetics, body, skincare, nailcare, and haircare.”

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Image: BWX buys Mineral Fusion cosmetics brand from North Castle Partners. Photo: courtesy of North Castle Partners