Bain is betting on beauty.
Bain Capital Private Equity has acquired a majority stake in Maesa, the business behind lines like Drew Barrymore’s Flower Beauty and Kristin Ess Hair Care. Maesa has about $230 million in annual sales, the company said, and more than 300 employees across seven global offices. The business is headquartered in New York and Levallois-Perret, France.
Flower Beauty’s Wanderlust Palette.
Maesa provides marketing, design, engineering, product development and operations services for the brands it works with, across hair, makeup, personal care and fragrance. Maesa also makes private-label products for Walmart, Target, Sephora, A.S. Watson, Ulta Beauty, Dollar General and H&M.
Julien Saada and Gregory Mager, who cofounded Maesa in 1997, said the Bain investment should allow the business to get to its next phase of growth as a global beauty supplier and beauty brand incubator. While Maesa’s roots are in private label, the brand has recently taken on more exclusive projects, like Kristin Ess, which was a fast success story. That brand, launched in 2017 exclusively with Target, is expected to do $100 million in retail sales for 2019.
“We believe that there are many exciting opportunities to accelerate our growth across different geographies, brands and retailers. We look forward to