ACON Investments L.L.C. Appoints Francesca Raminella as Beauty By Imagination CEO; Gary Dailey Transitions to Chief Strategy and Administrative Officer

NEW YORK, May 3, 2022 /PRNewswire/ -- Beauty By Imagination ("BBI" or the "Company") announced today that its Board of Directors has formally appointed Francesca Raminella as CEO of the Company, effective immediately. Gary Dailey, who previously served as co-CEO with Raminella, will assume a new role as Chief Strategy and Administrative Officer. Both executives will continue as members of BBI's Board of Directors. 

BBI is a majority-owned portfolio company of ACON Investments L.L.C. ("ACON"), whose innovative, category-leading hair care, tools and accessories brands – Wet Brush, Goody, Ouidad, Bio Ionic, Twist, and Curls – have made it a high-growth, omnichannel, industry star in recent years.

Anjali Jolly, Partner of ACON and a member of BBI's Board of Directors, said, "Together Francesca and Gary leveraged their complementary strengths to lead BBI through unprecedented times while achieving profitable growth that has consistently outperformed the market." ACON Partner and BBI Board of Directors member Suma Kulkami added, "Under Francesca's leadership, BBI embarks on the next phase of its growth. Gary will continue to be a valued partner in that journey, leveraging his operational acumen to spearhead BBI's business development, M&A, and value creation projects."

Raminella's extensive firsthand experience in growing high-performance global beauty brands makes her uniquely qualified to lead BBI's next chapter. A CPG and beauty industry executive with 25+ years of experience including Proctor & Gamble, Revlon, L'Oreal USA, and ghd North America, she has been the commercial force behind BBI, with a track record of best-in-class brand strategy and execution.

After joining the JD Beauty leadership team in 2018, she and Dailey, with the backing of ACON, oversaw the creation of the BBI platform and its evolution into the category's fastest-growing hair care multi-brand company. Raminella states, "BBI's portfolio of iconic, beloved, high-performance brands is second to none in the hair care industry. What sets us apart is our singular focus on making innovative, high-quality products designed for all hair types and textures, that delight hairdressers and consumers of all ages. This mission is achieved thanks to a dedicated, passionate, and talented team that I am deeply proud to lead. I am thankful to Gary for his great partnership which will continue as we strategize together to enhance BBI's results. I appreciate the support of ACON and the Board, and I am confident that in the coming years we will take BBI's business to new heights while continuing to support our retail customers by catalyzing strong category growth."

Dailey joined JD Beauty in 2016 and served as co-CEO with Raminella for almost three years. "I am proud of what Francesca and I – along with the entire BBI family – have achieved together in making this company the dynamic industry player it is today," he said. "As successful as our co-CEO partnership has been, all of us on the Board agree that the time is right to align under a singular leadership voice to best meet both the everyday challenges and significant opportunities ahead. I look forward to supporting Francesca's and BBI's continued success in my new role." 

About BEAUTY BY IMAGINATION

Beauty by Imagination ("BBI") is one of the leading manufacturers and marketers of beauty products. Based in New York, BBI develops some of the industry's most recognizable and innovative brands and products such as Goody, WetBrush, Bio Ionic, Ouidad, Twist, Curls, Solano and Ace. These brands promise quality and innovation to provide beautiful results to professionals and consumers alike. For more information, visit www.bbicompany.com.

About ACON Investments, L.L.C.: 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 $6.2 billion of capital. ACON has professionals in Washington, DC, Los Angeles, São Paulo, Mexico City, Bogotá and Madrid. For more information, visit www.aconinvestments.com.

SOURCE Beauty by Imagination