ACON Investments Acquires JD Beauty Co. and Merges it with Goody Products

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Mar 21, 2019, 09:00 ET

WASHINGTON, March 21, 2019 /PRNewswire/ -- ACON Investments, L.L.C. and its affiliates ("ACON"), owners of Goody Products, Inc. ("Goody"), today announced it has completed the acquisition of JD Beauty Co., LLC ("JD Beauty") from Topspin Partners II. JD Beauty is the company behind the popular Wet Brush branded hair care tools, Bio Ionic hair styling tools and Ouidad hair care treatments.

JD Beauty will merge with the well-known and iconic Goody, which ACON purchased from Newell Brands in August 2018, to form a powerful multi-brand diversified haircare accessory, liquid and styling tool company uniquely poised to serve the beauty industry.

Jeffrey Davidson, CEO of JD Beauty who will become CEO of the combined entities upon closing, said: "We are very excited about this transaction. Together, JD Beauty and Goody combine one of the fastest growing companies in the beauty industry with one of the country's most iconic and trusted beauty brands. We look forward to working with ACON to continue to develop innovative products, provide our customers top notch service and expand our global distribution capabilities."

Suma Kulkarni, Partner at ACON, commented, "We are delighted to collaborate with the JD Beauty management team to build on JD Beauty's track record of new product innovation and distribution capabilities. We believe this acquisition will be transformational for Goody, which we purchased from Newell Brands only seven months ago."

"The businesses are highly complementary to each other and, together, we expect the combination to create a formidable player in the marketplace. We plan to leverage ACON's resources and experience in building consumer brands to accelerate the Company's growth trajectory," remarked Anjali Jolly, Partner at ACON.

Terms of the transaction were not disclosed.

About JD Beauty

JD Beauty Group is one of the leading marketers and manufacturers of professional beauty products. Based in New York and launched in 1977 by founder Jeff Rosenzweig, JD Beauty Group has launched some of the industry's most recognizable and innovative brands and products such as WetBrush, Luxor Pro, Lure, TS-2 and more. These brands promise quality and innovation to provide beautiful and professional results to professionals and consumers alike. www.jdbeauty.com

About Goody

Goody Products, Inc., an iconic manufacturer of hair styling tools and accessories. Initially founded in 1907 as H. Goodman & Son, Goody sells its products through retailers worldwide, including North America, Latin America, Europe and Asia. www.goody.com

About ACON Investments

ACON Investments, L.L.C. is a Washington, DC-based international private equity investment firm that manages private equity funds and special purpose partnerships that make investments in the United States, Latin America and Europe. Founded in 1996, ACON has responsibility for managing approximately $5.5 billion of capital. ACON has professionals in Washington, DC, Los Angeles, Mexico City, São Paulo and Bogotá. For more information, visit www.aconinvestments.com.

CONTACT:
Midhat Pawlak
ACON Investments, L.L.C.
(202) 386-9767

SOURCE ACON Investments, L.L.C.