Centric Brands has acquired Taste Beauty, a manufacturer and marketer of children’s and adult beauty and personal care products.
The acquisition augments Centric Brand’s Kids and Licensed Entertainment portfolio and illustrates the company’s strategy, to aggressively grow its core business verticals.
“We are thrilled to welcome Taste Beauty and its team into the Centric Brands family,” says Jason Rabin, chief executive officer, Centric Brands. “This acquisition allows us to tap into an entrepreneurial, innovative and proven leadership team that combined with our existing Beauty Division creates the market authority resource in this category. It also further strengthens our bath and beauty product offering while expanding our Entertainment Licensing platform into complementary categories and properties.”
The acquisition also further deepens Centric Brand’s relationships with its licensors, vendors and retail partners as it grows Taste Beauty’s business along with its own beauty division across all areas of design, manufacturing, marketing and distribution. Taste Beauty will be part of Centric Brands’ Entertainment Licensing Group. The deal sees Alex Fogelson, co-founder and chief executive officer, Taste Beauty, will report to Janice Brown, president, Entertainment Licensing Group.
“We are incredibly excited to join forces with Centric Brands, leveraging their resources, platform and broad distribution to build on our growth strategy in the coming years,” says Fogelson. “This partnership allows us to provide an even stronger value proposition to our key retail and licensing partners.”