Friday 13 May 2022

US-based private investment firm Bansk Group has entered into a definitive agreement to acquire a majority stake in US haircare brands amika and Eva NYC, the firm said.

Terms of the transaction were not disclosed.

Founded in 2009, amika is one of the largest independent haircare brands in the US and the only one of scale at the intersection of professional, prestige, and digital channels.

Brooklyn-born and salon-raised, amika's unwavering commitment to professional-quality products has guided the development of a portfolio of haircare products and tools that are formulated following EU standards and without harmful ingredients such as SLS and SLES.

Founded in 2012, Eva NYC has become one of the fastest growing masstige haircare brands in the US.

The brand is committed to delivering products at accessible price points, and said it is the only masstige brand with an aluminium packaging portfolio that is 100% recyclable, certified cruelty-free, vegan, non-GMO, and free of harmful ingredients.

Both brands are Climate Neutral Certified and sustainably-minded with cruelty-free products, PCR or aluminum packaging, and a focus on giving back to the community.

In 2022, the brands intend to achieve a B Corp. certification, underscoring the distinctive and unmatched commitment to sustainability and inclusivity amika and Eva NYC represent and improve upon each day.

Upon the close of the transaction, amika and Eva NYC will continue to operate as individual brands under their respective brand presidents, Chelsea Riggs and Jane Moran.

Financo | Raymond James served as financial advisor and Sidley Austin LLP acted as legal counsel to amika and Eva NYC. Jefferies served as financial advisor and Davis Polk and Wardwell LLP acted as legal counsel to Bansk Group.

Founded in 2019, Bansk Group is a New York-based private investment firm focused on investing in and building distinctive consumer brands.