High Ridge Adds White Rain To Growing Portfolio
This article was originally published in The Rose Sheet
Executive Summary
Brynwood Partners’ High Ridge Brands aims to “revitalize” White Rain personal-care brand via “new and innovative value-oriented products” following its acquisition from Sun Products Corporation. White Rain joins a slew of personal-care brands the firm has picked up over the last 18 months.
High Ridge Brands’ personal-care acquisition streak continues with the purchase of White Rain from The Sun Products Corporation in a deal expected to close July 2.
Initially introduced by The Gillette Company in 1952, White Rain’s current offering consists of value-priced hair- and body-care products marketed with the tagline “Smart Moms Know” and distributed in the U.S. through food, drug, mass and dollar channels.
Lines include White Rain Classics and Naturals shampoos/conditioners and hairsprays, plus eponymous mousses, gels and body washes.
High Ridge, a personal-care-focused portfolio company launched by Greenwich, Conn.-based Brynwood Partners in January 2011, aims to “revitalize” White Rain via “a renewed focus on providing consumers with new and innovative value-oriented products.”
The “iconic” brand joins Zest, Coast, Alberto VO5, Rave and other brands scooped up by High Ridge since its creation in January 2011, in a portfolio boasting $300 million in sales, according to the company.
Under the deal, the firm also picks up Sun Products’ Adorn, The Dry Look, Mink and Toni personal-care brands. According to Sun Products Chairman, President and CEO Jeffrey P. Ansell, personal care is not strategically aligned with the latter’s core laundry and household-care offering, which includes the all, Snuggle, Wisk, Sun and Surf brands.
In the release, Brynwood notes that it “has developed a unique niche of being the lower-middle-market firm of choice for corporate divestitures.”
Over its 28-year history, the firm has acquired 35 brands from 14 different sellers, gaining 19 of those brands in the last 18 months.
Financial terms of the White Rain transaction were not disclosed.
In April, following its purchase of Coast from Henkel subsidiary The Dial Corporation, High Ridge outlined plans to “reconnect” consumers with the personal-cleansing brand’s classic “The Eye Opener” message (Also see "Revival Planned For “Eye-Opening” Coast Soap Brand" - HBW Insight, 30 Apr, 2012.).
The firm got its hands on Alberto VO5 and Rave in summer 2011 when Unilever was forced to divest them as a prerequisite to its acquisition of Alberto Culver (Also see "Brynwood Plans Alberto VO5 Revival Following Spin-Off From Unilever" - HBW Insight, 29 Aug, 2011.).
Earlier in 2011, High Ridge bought Zest from Procter & Gamble, seeing it as a brand with strong consumer recognition that was not being optimized within P&G’s strategic framework (Also see "Brynwood Partners Has Zest For Orphaned P&G Brand" - HBW Insight, 10 Jan, 2011.).