Global private equity fund Advent International has acquired Skala Cosméticos, a vegan haircare brand headquartered in Uberaba, Minas Gerais, Brazil.
Founded in 1986, Skala is one of the fastest growing brands in the Brazilian beauty sector, with annual expansion of roughly 30% in recent years. It is the fourth largest hair care brand in Brazil and one of the leading brands in the hair mask category. According to Advent, Skala’s products are present in more than 45% of Brazilian homes and the company exports its products to over 40 countries.
The transaction, whose financial details have not been disclosed, will enable Skala to expand its manufacturing capacity and distribution network as well as increase the brand’s presence in international markets.
“Our partnership with Advent will help accelerate Skala’s growth in both domestic and international markets, while allowing us to advance important agendas such as operational excellence and innovation at scale,” said Antonio Sousa, who has led Skala as CEO for the past eight years.
As part of the deal, Cyro Gazola will assume the chief executive officer role. Former President and CEO of Caloi, Cyro Gazola has deep experience in the Brazilian consumer goods sector, including 22 years at Procter & Gamble.
Skala’s current to executives — including former CEO Antonio Sousa, and Maria Claudia Lacerda and Publio Emilio Rocha – will remain as shareholders and join the company’s Board of Directors alongside Advent professionals and two other industry-experts, Alberto Carvalho, former CEO of Procter & Gamble in Brazil, and Andrea Mota, former Executive Director of O Boticário.
In the beauty care sector, Advent’s managed funds have invested in Californian haircare brand Olaplex; Orveon, a beauty group including bareMinerals, Buxom and Laura Mercier; and Parfums de Marly, a French perfume company.
