California based private equity firm West Lane Capital announced on Wednesday it has acquired U.S. beauty firm Beauty Bakerie Cosmetic Brand. Earlier this year, the brand had announced on social media and its website that it was shutting down, while reasons for the closure were unclear.
Founded in 2011, Beauty Bakerie offers a collection of makeup and skincare products sold in numerous retail outlets throughout the USA and internationally as well as direct to consumers through its website.
Brand founder Cashmere Nicole Carrillo said the sale of the business is “the ideal strategic decision” to lead Beauty Bakerie through growth. Terms of the transaction were not disclosed.
"Over the past decade, we have established ourselves at the crossroads of beauty, culture, and change, and we are eager for this legacy to continue within the West Lane group, bringing even more value to our loyal customers," she added.
As part of the deal, West Lane will support the continued growth of the Beauty Bakerie brand through enlarged distribution and the development of new products.
West Lane has already built a large and diverse beauty and wellness platform through numerous acquisitions in the industry and continues to grow its portfolio of companies in this space.
"We are excited to add the Beauty Bakerie brand to the West Lane platform of beauty and wellness businesses, and we look forward to continue providing clean, high quality and innovative products under the Beauty Bakerie brand," said Nick Sternberg, managing partner of West Lane. "The brand fits very well into our portfolio and we see significant synergies between Beauty Bakerie and our collection of brands under the West Lane umbrella."
