Revolution Beauty acquires BH Cosmetics
Revolution Beauty Group has completed its acquisition of US beauty brand BH Cosmetics for £2.9 million ($3.9 million).
The acquisition was financed through the group's existing cash resources and aims to "enhance Revolution Beauty's strategy", offering global consumers quality beauty products at affordable prices.
Launched in Los Angeles in 2009, Badass with Heart (BH) Cosmetics creates vegan and cruelty-free cosmetics. The brand sells through its own direct-to-consumer channel and several retailers across the US and Germany.
On 14 January 2022, BH Cosmetics filed for bankruptcy at the US Bankruptcy Court. Following US court approval on and post satisfaction of customary closing conditions, Revolution Beauty's subsidiary, RBI Acquisition Holdings LLC, purchased the BH brand, its social media accounts, customer database and certain inventory.
Revolution Beauty the hopes to consolidate BH Cosmetics into its wider operations during 2022, leveraging synergies across existing product development, supply and distribution.
The group also intends to re-energise the BH brand with new products and utilise both Revolution Beauty and BH's relationships in the US, UK and internationally.
Adam Minto, CEO at Revolution Beauty, said: "BH Cosmetics is an iconic US-born brand with a loyal fan base across digital and social platforms and loved by celebs and make-up artists everywhere. Its strong offering in colour cosmetics and brushes, perfectly complements our business. Bringing BH Cosmetics into the Group will help us accelerate our growth trajectory in the US and leverage our existing global eco-system of distribution."